ITC Says Procedural Error Was Not VirnetX's (VHC) Fault; Shares Rallying

Article Stock Quotes (2) Comments (0)

Shares of VirnetX (AMEX: VHC) jumped into positive territory just ahead of noon Monday as the International Trade Commission posted the company's Petition for Review of Order No. 15 and Appeal of Order No. 14. As a recent note from Gilford's Robert Tango pointed out, "document 486679 appears to be clear and implies any minor procedural error that my have occurred was not the result of actions by VirnetX." The analyst also suggested the document seems to imply any errors by the ITC will be "rectified relatively quickly," if they have not already been.

Tango believes SAIC (NYSE: SAI) has already signed over the rights of the patent portfolio in question to VirnetX. The analyst reiterated a Buy rating and $65 price target on shares of VirnetX.

The stock is now up 12 percent to $25.40.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
• UPDATE: Canaccord Genuity Starts T-Mobile US, (TMUS) at Hold
• UPDATE: MannKind Corp. (MNKD) Crashes

Create E-mail Alert Related Categories

Analyst Comments, Litigation, Momentum Movers

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?