VirnetX Scores on Patent Troll Case Against Apple

VirnetX Holding Corp (NYSEMKT: VHC) is showing just how great it can be to be a patent troll. Shares are surging on news that it has won a verdict against Apple Inc. (NASDAQ: AAPL) over patent disputes pertaining to Apple's Face Time. VirnetX already has a patent license deal with Microsoft Corp. (NASDAQ: MSFT), and other licensees are Aastra, NEC and Mitel.

Today is simply Apple's turn to be in the barrel. With Apple's $100+ billion in cash, this is not even a mosquito bite. But for a small company like VirnetX with a market value of under $1.7 billion, a $368 million verdict will go quite a long way. The surge is being enhanced by the notion that Apple infringed four VirnetX patents.

The court will hear the post-trial motions in the upcoming weeks, which means this is not exactly the end of it.

VirnetX shares are up over 24% at $32.65 after the open, but the intellectual property company's 52-week trading range is $18.20 to $41.93.

JON C. OGG


Filed under: 24/7 Wall St. Wire, Consumer Electronics, Consumer Product, Corporate Governance, Law, Technology Companies Tagged: AAPL, MSFT, VHC
Read Full Story

Markets

NASDAQ 6,426.92 4.23 0.07%
S&P 500 2,502.22 1.62 0.06%
DJIA 22,349.59 -9.64 -0.04%
NIKKEI 225 20,296.45 -51.03 -0.25%
HANG SENG 27,880.53 -229.80 -0.82%
DAX 12,592.35 -7.68 -0.06%
USD (per EUR) 1.19 0.00 -0.33%
USD (per CHF) 0.97 0.00 0.18%
JPY (per USD) 112.16 0.18 0.16%
GBP (per USD) 1.35 0.00 -0.02%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.