Proactiveinvestors USA & Canada VirnetX https://www.proactiveinvestors.com Proactiveinvestors USA & Canada VirnetX RSS feed en Thu, 23 May 2019 10:03:30 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - VirnetX rallies as US court rejects Apple’s $440M appeal ]]> https://www.proactiveinvestors.com/companies/news/212636/virnetx-rallies-as-us-court-rejects-apples-440m-appeal-212636.html Shares of VirnetX Holding Corp (NYSEAMERICAN:VHC), the internet security software group, soared Tuesday after a US appeals court upheld a $440 million judgement it previously won against the iPhone maker Apple Inc in a patent infringement suit.

The US Court of Appeals for the Federal Circuit rejected Apple’s move to appeal a jury verdict dating back to 2016 that was originally valued at $302 million, but grew to $440 million with interest, enhanced damages and other costs, according to a Reuters report.

READ: VirnetX wins US$625.6mln patent case against Apple

In a statement, Apple said it planned to appeal the ruling.

Investors applauded the news, sending VirnetX shares up 64% to $6.33 by the closing bell. Apple shares, meanwhile, gained 2% to $153.07.

READ: Apple ordered to pay 'patent troll' VirnetX US$502.6mln

The court’s verdict comes despite the patent claims being ruled invalid by an administrative court, but VirnetX is appealing that decision, according to Reuters.

VirnetX and Apple have been locked in a legal battle for more than eight years, with jurors previously finding that Apple’s modified VPN on Demand, iMessage and FaceTime services infringed on VirnetX’s patents and that Apple’s infringement was willful.

The legal tussle kicked off in 2010 when VirnetX introduced litigation alleging that Apple was guilty of a number of examples of patent infringement.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

]]>
Tue, 15 Jan 2019 16:05:00 -0500 https://www.proactiveinvestors.com/companies/news/212636/virnetx-rallies-as-us-court-rejects-apples-440m-appeal-212636.html
<![CDATA[Media files - Small-Cap Snapshot: Shares of VirnetX Holding Corp soar after Apple's request for a new trial in its long-running patent battle is denied ]]> https://www.proactiveinvestors.com/companies/stocktube/10305/small-cap-snapshot-shares-of-virnetx-holding-corp-soar-after-apple-s-request-for-a-new-trial-in-its-long-running-patent-battle-is-denied-10305.html Fri, 31 Aug 2018 14:19:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/10305/small-cap-snapshot-shares-of-virnetx-holding-corp-soar-after-apple-s-request-for-a-new-trial-in-its-long-running-patent-battle-is-denied-10305.html <![CDATA[News - VirnetX shares halve in huge volume after Apple court setback ]]> https://www.proactiveinvestors.com/companies/news/128868/virnetx-shares-halve-in-huge-volume-after-apple-court-setback-128868.html VirnetX Holding Corporation (NYSEMKT:VHC) shares nearly halved on Monday to their lowest levels since early January and the biggest faller on the Russell 2000 index after a setback in its legal wrangle with Apple Inc (NASDAQ:APPL) over alleged patent infringement.

The disappointing court ruling regarding its patent infringement claims against Apple sent VirnetX shares down 43% to $2.47 and volume topped 2.76mln shares versus a daily average of 505,000. That’s about five times the daily volumes.

The internet security software company said the US District Court for the Eastern District of Texas issued a new order in the case against Apple, vacating the previous order to consolidate the two cases, and to retry them as separate cases.

In February, VirnetX's stock soared after a federal Jury in Texas ordered Apple to pay $625mln for infringing VirnetX's patents.

Apple shares were up 1.7% at $105.98 on Monday.

]]>
Mon, 01 Aug 2016 16:05:00 -0400 https://www.proactiveinvestors.com/companies/news/128868/virnetx-shares-halve-in-huge-volume-after-apple-court-setback-128868.html
<![CDATA[News - VirnetX wins US$625.6mln patent case against Apple ]]> https://www.proactiveinvestors.com/companies/news/122167/virnetx-wins-us6256mln-patent-case-against-apple-122167.html Internet security software group VirnetX Holding  (NYSE: VHC) reported that a US$625.6mln lawsuit verdict against tech behemoth Apple (NASDAQ:AAPL) had gone in its favour.

The case was to do with patent infringement.

It is the second time a federal jury has found Apple liable for infringing VirnetX's patented technology.

The verdict yesterday in the US District Court for the Eastern District of Texas in Tyler includes royalties awarded to VirnetX based on an earlier patent infringement finding against Apple.

The jury found that Apple's modified VPN On Demand, iMessage and FaceTime services infringed VirnetX's patents and that Apple's infringement was willful.

A separate jury previously awarded VirnetX US$368mln in a 2012 trial after finding that Apple's FaceTime video-conference application and its VPN On Demand service infringed four VirnetX patents.

The award later was vacated by the US Court of Appeals for the Federal Circuit, which sent the case back to the district court for a retrial on damages and for Apple's alleged infringement through the FaceTime service under a new claim construction, which the jury decided in today's verdict.

]]>
Thu, 04 Feb 2016 08:44:00 -0500 https://www.proactiveinvestors.com/companies/news/122167/virnetx-wins-us6256mln-patent-case-against-apple-122167.html