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SEC Probing Apple's Patent Settlement with Nokia

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Oct 3, 2011, 10:54 AM by Eric M. Zeman

The U.S. Securities and Exchange Commission has requested that Apple Chief Financial Officer Peter Oppenheimer provide it with additional information regarding the patent litigation settlement the iPhone maker struck with Finnish phone giant Nokia. In particular, the SEC wants to know what the terms of the settlement entailed, such as any monies exchange between the two companies, when such payments may have been made, and an general overview of how the negotiations were conducted. The SEC did not immediately make clear the reason behind its request. Apple and a number of smartphone makers are entangled in patent litigation in the U.S. and abroad.

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