A federal court upheld a jury's nearly $500-million award to medical device firm Masimo Corp., giving one of Orange County's largest public companies a win in a long-running patent dispute.
In 2009, Masimo of Irvine sued Philips Electronics North American Corp. and Philips Medizin Systeme Boblingen, both subsidiaries of Royal Philips, alleging they infringed patents for non-invasive technology that monitors oxygen in patients' blood.
In October, a jury awarded Masimo $467 million in damages. A federal judge in Delaware on Monday upheld the award and denied Philips' request for a new trial.
Philips contends it did not infringe any "valid" Masimo patents and in a statement said that it would "continue to pursue all avenues of appeal."
Masimo shares closed up 98 cents, or 2.8%, to $36.13.