Apple Ordered To Pay $532.9 Million For ITunes Patent Infringement

Apple Inc. was ordered to pay $532.9 million after a federal jury found that the company's iTunes software infringed patents held by privately owned Smartflash LLC, media reports said Wednesday. Texas-based Smartflash was seeking $852 million in damages, the reports said. Apple said the verdict is another argument for patent reform to stop litigation by companies like Smartflash, that do not make products themselves. Apple shares were slightly lower in premarket trade.