VirnetX Receives $502.8 Million Plus Interest, Supplemental Damages, Costs and Ongoing Royalties in Final Judgment in Apple Suit

ZEPHYR COVE, Nev., Jan. 15, 2021 /PRNewswire/ — VirnetX™ Holding Corporation (NYSE: VHC)(the “Company”), an Internet security software and technology company, announced today that the United States District Court for the Eastern District of Texas, Tyler Division (the “District Court”), entered a Final Judgment and issued its Memorandum Opinion and Order (“Order”) regarding post-trial motions resulting from the prior $502.8 million jury verdict (“Verdict”) for VirnetX in the ongoing patent infringement action between VirnetX Inc. (“VirnetX”) and Apple Inc. (“Apple”). 

In the Order, the District Court affirmed the jury’s verdict of $502.8 million and granted VirnetX’s motions for pre-trial and post-trial interest, supplemental damages, costs, and ongoing royalty of a rate set at $0.84 per infringing iPhone, iPad and Mac products.

“We are extremely pleased with this $502.8 million final judgment and the added monies for interest, supplemental damages, costs and ongoing royalties,” said Kendall Larsen, VirnetX CEO and President. “We have fought long and hard to hold Apple responsible for using our technology in the US.”

On October 30, 2020, the jury in the District Court issued the $502.8 million jury verdict in favor of VirnetX based on Apple’s infringement of two network security patents; VirnetX US Patents No. 6,502,135 and No. 7,490,151. The case is VirnetX Inc., et al. v. Apple Inc., No. 6:12-CV-00855. The jury verdict called for damages of $0.84 per accused device since the 2013 launch of Apple’s iOS 7 operating system and represents 598,629,580 infringing units from US sales only. On March 13, 2020, VirnetX was paid a $454,033,859 judgment in a separate case against Apple.

Source:

https://www.prnewswire.com/news-releases/virnetx-receives-502-8-million-plus-interest-supplemental-damages-costs-and-ongoing-royalties-in-final-judgment-in-apple-suit-301209471.html

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