Court spokesman Rob McCallum said on Twitter that the jury had ruled in favour of theatre chain Cinemark in the first civil lawsuit stemming from the massacre.
The case focused on whether Cinemark should have done more to prevent the carnage at the multiplex in Aurora, Colorado.
James Holmes opened fire on July 20, 2012 during the midnight premiere of "The Dark Knight Rises." He was wearing body armour and was armed with numerous weapons when police arrested him outside the theater.
In the civil case, attorney Marc Bern, representing the victims, argued that Cinemark should have hired more security and trained its personnel to better ensure the safety of patrons.
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"We certainly feel that the security on the night of the shooting was very, very lax and if certain minimal things had been put in place ... This entire event would have been prevented," Bern told AFP, adding that he planned to appeal.
He noted that while the theatre beefed up security on weekends, it failed to do so on the night of the massacre, despite the fact that 1,000 people were expected to attend the Batman premiere.
"The community has spoken," Cinemark attorney Kevin Taylor said after the verdict was announced yesterday, the Denver Post reported. "Its conscience has been heard."
A separate case filed against the theatre is set to go on trial before a federal court in July.
Holmes was sentenced last August to 12 consecutive life terms without the possibility of parole.