Schwendimann v. Arkwright Advanced Coating was decided on May 13, 2020, on appeal from the District of Minnesota. The district court granted Plaintiff Schwendimann motion for summary judgment of proper standing. Following a jury trial, a judgment of willful infringement was entered against Defendant Arkwright and the jury awarded Schwendimann $2,624,228.00 in damages. The district court then awarded prejudgment interest on the damages in the amount of $1,915,328.00, awarding a 10% prejudgment interest rate under Minnesota statute and rejecting Arkwright’s proposed 1.42 percent rate. The court also rejected Arkwright’s argument that prejudgment interest should be calculated based on the number of infringing sales per year instead of the total damages. Arkwright appealed.
The Federal Circuit affirmed the judgment on standing and the prejudgment interest award.
The district court did not abuse its discretion in granting a prejudgment interest rate of 10 percent, starting from the first date of infringement. “Awarding prejudgment interest is the rule, not the exception.” District courts have a “wide latitude in the selection of interest rates,” and are “permitted the use of statutory rates set by states, U.S. Treasury bill rate, and the prime rate.” “Typically, prejudgment interest should be awarded from the date of the infringement to the date of the judgment.” “Where a jury awards a lump-sum amount as compensation for infringement, the prejudgment interest is properly applied to the entire amount beginning on the first date of the infringement.” Thus, the district court did not abuse its discretion by awarding prejudgment interest in the amount of 10 percent pursuant to Minnesota statute.
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Judge Reyna dissented, arguing that Schwendimann lacked standing when she filed suit.