VirnetX Holding (VHC) Announces $302.4M Verdict Against Apple (AAPL)

October 3, 2016 9:16 AM EDT
Get Alerts VHC Hot Sheet
Trade VHC Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

VirnetX™ Holding Corporation (NYSE MKT: VHC), an Internet security software and technology company, announced today that on September 31, 2016, a Jury in the United States Court for the Eastern District of Texas, Tyler Division, in the case VirnetX Inc., et al. v. Apple Inc., No. 6:10-cv-00417-RWS ("Apple I"), has awarded VirnetX $302.4 million in a verdict against Apple Corporation for infringing four VirnetX patents, marking the third time a federal jury has found Apple liable for infringing VirnetX's patented technology.

The verdict includes royalties awarded to VirnetX, for unresolved issues in the Apple I case, remanded back from the United States Court of Appeals for the Federal Circuit ("USCAFC"), related to (1) damages owed to VirnetX for infringement by Apple's original VPN-on-Demand (VOD) and (2) the alleged infringement by Apple's original FaceTime product, under the new claim construction of "secure communication link" pertaining to the '504 and '211 patents by the USCAFC, and the damages associated with that infringement.

"We are extremely pleased with the jury verdict announced today," said Kendall Larsen, VirnetX CEO and President. "This is the third time a jury has confirmed that Apple has been using the technology developed by our inventors."

VirnetX has two currently-pending patent infringement lawsuits against Apple Inc., in United States Court for the Eastern District of Texas, Tyler Division. The Apple I case and Case No. 6:12-cv-00855 ("Apple II") which covers issues of alleged infringement, damages and willfulness by Apple's redesigned VOD in iOS 7 and 8, the redesigned FaceTime in iOS 7 and 8 and OS X 10.9 and 10.10 and iMessage. A jury trial in Apple II case is expected to be scheduled by the court shortly after the conclusion of the Apple I case.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Hot Corp. News, Litigation, Momentum Movers

Add Your Comment