VirnetX (VHC) $368M Jury Verdict Against Apple (AAPL) Upheld

February 27, 2013 8:35 AM EST
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VirnetX Holding (NYSE: VHC) announced today that on February 26, 2013, the United States District Court for the Eastern District of Texas, Tyler Division, issued its Memorandum Opinion and Order regarding post-trial motions resulting from the prior $368 million jury verdict for VirnetX in the ongoing patent infringement action between VirnetX Inc. and Apple Inc. (Nasdaq: AAPL).

In the Order, the Court denied Apple's motion to reduce the damages awarded by the jury for past infringement. The Court further denied Apple's request for a new trial on the liability and damages portions of the Verdict. Additionally, the Court granted VirnetX's motions for pre-judgment interest, post-judgment interest, and post-verdict damages to date. Specifically, the Court ordered that Apple pay $33,561 in daily interest up to final judgment and $330,201 in daily damages for infringement up to final judgment for certain Apple devices included in the Verdict.

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