EPL Holdings on Wednesday filed a lawsuit against Apple (AAPL) claiming the consumer electronics giant stole its media playback technology in the iPhone and iPad. According to a document filed with the U.S. District Court for the Northern District of California, EPL met with Apple on January 28, 2002 to discuss licensing its technology, which allows device owners to play back audio and video content at faster and slower speeds, TheNextWeb reported. Apple offered the company $50,000 to use its patent but Enounce, EPL Holdings’ predecessor, declined the company’s offer because it “fell woefully short of the value of their technology.” EPL claims that Apple then knowingly used its patents without the company’s consent and made billions of dollars off products that contain stolen technology.
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