Hearing device manufacturer Cochlear will appeal a $268.1 million US district court fine, following a patent infringement lawsuit filed by the Alfred E. Mann Foundation for Scientific Research and Advanced Bionics LLC.
Cochlear said the infringement related to a long expired patent and had no ongoing impact on the company's business.
"We are surprised by the decision and do not agree with the reasons given by the judge," Cochlear chief executive Dig Howitt said in a release.
"We will continue to defend this case and the next step in the litigation process is our appeal to the US Court of Appeals."
A decision on the appeal is expected in approximately two years.
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To stay the execution of the judgment pending the outcome of the appeal, Cochlear will need to lodge a $US335 million insurance bond with the Court.
Cochlear said it has debt and other facilities available to cover the amount of the insurance bond.
Cochlear shares dipped from $179.56 at Monday's open to $174.76 at 1010 AEDT.
