(Reuters) - The New York State Court of Appeals on Thursday overturned a $115 million judgment against Samsung Electronics Co Ltd (005930.KS) over television patents.
In 2015, MPEG LA, a group that owns a pool of patents used in television sets, sued Samsung on allegations that the electronics maker had improperly terminated contracts with the group. MPEG LA won a $115 million judgment against Samsung in January.
In its ruling issued on Thursday the New York State Court of Appeals overturned the judgment, writing that Samsung’s termination of the contracts was “proper under the plain language of both agreements.”
Reporting by Stephen Nellis; Editing by Leslie Adler