Why VirnetX Holding Corporation Shares Jumped Today
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of VirnetX Holding Corporation jumped more than 10% during Monday's intraday trading after SEC filings revealed a favorable order in the company's pending patent litigation against Apple.
So what: Specifically, a U.S. District Court issued an order awarding VirnetX an ongoing royalty of 0.98% on "adjudicated products and products not colorably different from those adjudicated at trial that incorporate any of the FaceTime or VPN on Demand features found to infringe at trial."
Now what: That could amount to an award in the hundreds of millions -- not unlike the $368 million judgment in late-2012 after jury decided Apple had infringed four VirnetX patents also related to FaceTime.
Of course, VirnetX will inevitably need to work through a lengthy appeals process before any court decisions are truly final, which demonstrates just how difficult it can be for small IP companies to actually cash a check. Even so, while it's hardly the final word, today's decision does represent yet another piece of the long-term puzzle for VirnetX shareholders.
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The article Why VirnetX Holding Corporation Shares Jumped Today originally appeared on Fool.com.Steve Symington and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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