CUPERTINO (dpa-AFX) - VirnetX Holding Corp. (VHC), an Internet security software and technology company, said that a jury in the United States Court for the Eastern District of Texas has awarded VirnetX $625.6 million in a verdict against Apple (AAPL) for infringing four VirnetX patents, marking the second time a federal jury has found Apple liable for infringing VirnetX's patented technology.
VHC is currently trading at $8.30, up $3.51 or 73.22%.
'We are extremely pleased with the jury verdict,' said Kendall Larsen, VirnetX CEO and President. 'The jury agreed once again that Apple has been using the technology developed by our inventors.'
The verdict 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.
In addition to determining the royalty owed by Apple for its prior infringement, today's verdict also includes an award based on the jury's finding that Apple's modified VPN On Demand, iMessage and FaceTime services have continued to infringe VirnetX's patents.
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