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DAMAGES PROVISION
 12 Months Ended
Dec. 31, 2017
DAMAGE PROVISION  
DAMAGE PROVISION

14.        DAMAGES PROVISION

                                                                                                                                                                                    

 

 

 

December 31,
2017

 

December 31,
2016

 

December 31,
2015

 

 

 

Initial damages

 

$

—

 

$
70,000,000

 

$

—

 

 

 

Enhanced damages

 

 

—

 

 
21,000,000

 

 

—

 

 

 

Pre-judgment interest

 

 

—

 

 
20,675,154

 

 

—

 

 

 

Accrued post-judgment interest

 

 

—

 

 
105,942

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

—

 

$
111,781,096

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

On May 19, 2016, in the Company's primary U.S. litigation with CardiAQ, following a trial in Boston, Massachusetts, a jury awarded $70 million on certain trade secret claims made by CardiAQ. On October 31, 2016, during post-trial motions, the judge awarded $21 million enhanced damages on those claims and on January 18, 2017 during post-trial motions the judge awarded $20,675,154 in pre-judgment interest and $2,354 per day in post-judgment interest from November 21, 2016. During 2017 interest of $738,021 was accrued. On November 13, 2017, the final mandate of the Appeals Court was issued and on November 17, 2017, a total of $112,519,117 was paid to settle the remaining damages and interest awards in full.