Shares of VirnetX Holding Corp. surged in the extended session Tuesday after a federal jury in Texas said Apple Inc. must pay the security software company $502.6 million over infringed patents, according to reports late Tuesday. In 2014, an earlier ruling in VirnetX's favor was thrown out by a higher court, prompting a retrial.
VirnetX has been gunning for Apple since 2010 when it filed three lawsuits alleging that its FaceTime, VPN on Demand and iMessage features infringed on owned patents. While there will nearly certainly be jubilation at the ruling, Apple has a history of appealing. The Patent Trial and Appeal Board has said the patents are invalid, in cases that are now before the U.S. Court of Appeals for the Federal Circuit in Washington.
In 2017 however, Apple filed an appeal against the USA district court verdict, though it lost the case. 7 million to VirnetX for encroaching on the patents of its four technologies apparently used in iOS applications as well as FaceTime.
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Bloomberg notes, however, that this could be a short-lived victory for VirnetX.
In a statement to Bloomberg, VirnetX CEO Kendall Larsen called the damages amount "fair". The court ruled in the favor of VirnetX and has ordered Apple to pay more than Dollars 500 million as compensation to the patent-assertion organization.
"The evidence was clear", Larsen said after the verdict was announced. But it has been speculated that the decision is likely to be scrapped as the Patent Trial & Appeal Board has claimed the patents under investigation to be invalid.