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    mobile investing

    Facebook's Virtual-Reality Tech was Not Stolen, Zuckerberg Testifies

    Written by Emma Harwood
    |
    Jan. 17, 2017 09:25AM PST

    Facebook (NASDAQ:FB) Chief Executive Officer Mark Zuckerberg took the witness stand in Dallas federal court on Tuesday and denied an allegation by a rival company that Facebook’s virtual-reality technology of its Oculus unit was stolen. Zuckerberg was still on the witness stand after more than an hour of testimony in a civil lawsuit brought by videogame …

    Facebook (NASDAQ:FB) Chief Executive Officer Mark Zuckerberg took the witness stand in Dallas federal court on Tuesday and denied an allegation by a rival company that Facebook’s virtual-reality technology of its Oculus unit was stolen. Zuckerberg was still on the witness stand after more than an hour of testimony in a civil lawsuit brought by videogame publisher ZeniMax Media.
    As quoted in the press release:

    ZeniMax sued Oculus in 2014 as Facebook was in the process of buying the startup for $2 billion over allegations that Oculus unlawfully gained access to ZeniMax’s intellectual property.
    Zuckerberg told the jury: “I’m here because I believe they’re false, and it’s important to testify to that.”

    Click here for the full text release.

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