A record $5.7 billion patent verdict has been issued, and Burford Capital (BUR.US) may receive $1.4 billion, with its stock price once surging more than 12%.

Burford Capital Ltd. (BUR.US) rose more than 12% at one point on Monday, the biggest intraday gain since late March, after a federal jury issued a verdict in a patent case involving Apple Inc. (AAPL.US). By the close, the stock was up nearly 8%. A federal jury in San Diego ruled on Sept. 25 that Apple Inc. must pay more than $5.7 billion for infringing vibration-based technology patents owned by Taction Technology Inc., according to reports. It was reported to be one of the largest patent awards in U.S. history. Court filings in the case disclosed that Taction received financing from Gronostaj Investments LLC and Kenosha Investments LP, the latter of which was identified in separate litigation as an indirect subsidiary of Burford Capital Ltd. Burford Capital said in a statement on Monday that if the judgment amount is paid as awarded, Burford's entitlement would be $1.4 billion, split roughly between its balance sheet and investment funds. Burford warned that the figure could change due to post-trial and appellate proceedings. Apple Inc. has filed a motion for judgment as a matter of law, asking the trial court to set aside the jury's verdict. The U.S. Court of Appeals for the Federal Circuit, which hears patent appeals, is known for rigorous scrutiny of large damages awards. "The rendering of a jury verdict does not represent a final judgment or that Burford has received a cash recovery," the litigation funder said. "The case remains subject to significant litigation and collection risk." Burford noted that litigation cases often settle for less than jury verdict amounts, and the parties may settle for a much lower sum. The company's ultimate entitlement will also depend on the terms of its financing agreements and applicable fees, expenses, taxes and other deductions.