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via finance.yahoo.comBusiness & Companies

Joby Aviation hit with $116.9-million verdict in trade secrets lawsuit

FROM THE WIRE · FINANCE.YAHOO.COM

A federal jury reached a verdict last week in the latest lawsuit surrounding the burgeoning market for electric vertical takeoff and landing aircraft. The jury in Tampa, Fla., found that air taxi startup Joby Aviation owes roughly $116.9 million to aviation supplier Aerosonic…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishUnfavorable legal verdict for air taxi startup; negative but ordinary impact for already-declining stock.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Federal jury found Joby Aviation owes approximately $116.9 million to Aerosonic for breach of confidentiality agreement.
  2. 02Aerosonic claimed Joby used its proprietary designs to develop its own air data probes.
  3. 03Joby shares have shed more than 55% year-to-date, trading unchanged at $5.78.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Joby Aviation, Inc.JOBYStock5.78 USDMarket closedtoday 0.00%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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