Shares of VirnetX (VHC) are up 50% this morning to $7.42 as they were awarded $652M in a patent lawsuit with Apple (AAPL) Judge Robert W. Schroeder III in the U.S. District Court for the Eastern District of Texas in Tyler includes royalties awarded to VirnetX based on an earlier patent infringement finding against Apple that Caldwell Cassady & Curry also won for VirnetX. 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. This award is larger than the company valuation, so this is a significant action from Texas.
VirnetX was represented by Caldwell Cassady & Curry principals Brad Caldwell, Jason Cassady, Austin Curry and Justin Nemunaitis, and firm associates Hamad Hamad, Warren McCarty, Jason McManis, Daniel Pearson, Chris Stewart and John Summers. Representing VirnetX as local counsel were Johnny Ward and Claire Abernathy Henry of Ward, Smith & Hill, PLLC, in Longview, and Robert M. Parker, R. Christopher Bunt and Charles Ainsworth of Tyler-based Parker, Bunt & Ainsworth, PC.
"We are thankful for the jurors' hard work and attention in this case, and for reaching a just verdict," says Mr. Cassady. "The jury saw what we have been saying all along: Apple has been infringing VirnetX's patented technology for years."
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