Monday, 18 November, 2019


VirnetX shares surge as jury says Apple infringed patents

Apple iPhone X VirnetX shares surge as jury says Apple infringed patents
Bennie Garza | 11 April, 2018, 20:10

A federal jury in East Texas has found that Apple is guilty of infringing secure communications patents belonging to VirnetX Holding Corp., a notorious patent troll that has been battling Apple in court for almost eight years now.

VirnetX claimed that Apple's FaceTime, VPN on Demand and iMessage features infringe four patents related to secure communications.

VirnetX, based in Zephyr Cove, Nevada, reported just over $1 million in revenue a year ago but investors have boosted the stock by more than 70% in hopes of an eventual victory over Apple.

There have been multiple trials between the companies, most recently one involving earlier versions of the Apple devices.

However, the current East Texas case had already proceeded so far that, according to Bloomberg, the Federal Circuit refused to put it on hold. "The evidence was clear", Kendall Larsen said to reporters following the announcement of the verdict. But if that ruling stands, the newest victory will be short-lived. Originally VirnetX was asking for $900 million, but apparently the jury decided $368 million was enough. It wasn't until last October that the court made a decision, awarding VirnetX with $439.7 million in damages.

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