ZEPHYR COVE, Nev., Sept. 16, 2014 /PRNewswire/ -- VirnetX™
Holding Corporation (NYSE MKT: VHC), an Internet security software
and technology company, announced today that the United States Court of Appeals for the
Federal Circuit (USCAFC) issued their ruling in the VirnetX vs.
Apple (13-1489-LP VirnetX, Inc. v. Cisco Systems, Inc.
(10-CV-0417)) infringement lawsuit. In that ruling, The
USCAFC affirmed the jury's finding that all 4 of VirnetX's patents
are valid, confirmed the jury's finding of infringement of VPN on
Demand under many of the asserted claims of the '135 and '151
patents, and confirmed the district's court's decision to allow
evidence concerning the VirnetX's licenses and royalty rates in
connection with the determination of damages. In its order, the
USCAFC also vacated the jury's damages award and the district
court's claim construction with respect to parts of the '504 and
'211 patents and remanded the damages award and determination of
infringement with respect to FaceTime –for further
proceedings consistent with its opinion.
"While we are disappointed that the Federal Circuit has vacated
portions of the judgment for further proceedings, we are bolstered
by the fact that the patents were again found valid and that it was
confirmed that Apple's VPN on Demand functionality infringes the
VirnetX patents," said Kendall
Larsen, VirnetX CEO and President. "We look forward to
readdressing the FaceTime infringement and damages issues as soon
as possible."
About VirnetX
VirnetX Holding Corporation is an Internet security software and
technology company with patented technology for secure
communications including 4G LTE security. The Company's
software and technology solutions, including its secure domain name
registry and GABRIEL Connection Technology™, are designed to
facilitate secure communications and to create a secure environment
for real-time communication applications such as instant messaging,
VoIP, smartphones, eReaders and video conferencing. The
Company's patent portfolio includes over 80 U.S. and international
patents with over 100 pending applications. For more
information, please visit www.virnetx.com.
Forward Looking Statements
Statements in this press release that are not statements of
historical or current fact, including statements regarding
the strength of Virnetx's intellectual property, constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on expectations, estimates and
projections about the markets in which the Company operates,
management's beliefs, and certain assumptions made by management
and involve known and unknown risks, uncertainties and other
unknown factors that could cause the actual results of the Company
to be materially different from the historical results or from any
future results expressed or implied by such forward-looking
statements, including but not limited to (1) the outcome of any
legal proceedings that have been or may be initiated by the Company
or that may be initiated against the Company; (2) the ability to
capitalize on the Company's patent portfolio and generate licensing
fees and revenues; (3) the ability of the Company to be successful
in entering into licensing relationships with its targeted
customers on commercially acceptable terms; (4) potential
challenges to the validity of the Company's patents underlying its
licensing opportunities; (5) the ability of the Company to achieve
widespread customer adoption of the Company's GABRIEL Communication
Technology™ and its secure domain name registry; (6) the level of
adoption of the 3GPP Series 33 security specifications; (7) whether
or not the Company's patents or patent applications may be
determined to be or become essential to any standards or
specifications in the 3GPP LTE, SAE project or otherwise; (8) the
extent to which specifications relating to any of the Company's
patents or patent applications may be adopted as a final
standard, if at all; and (9) the possibility that Company may be
adversely affected by other economic, business, and/or competitive
factors. In addition to statements which explicitly describe
such risks and uncertainties, readers are urged to consider
statements labeled with the terms "believes," "belief," "expects,"
"intends," "anticipates," or "plans" to be uncertain and
forward-looking. The forward-looking statements contained
herein are also subject generally to other risks and uncertainties
that are described from time to time in the Company's reports and
registration statements filed with the Securities and Exchange
Commission, including those under the heading "Risk Factors" in
Company's Quarterly Report on Form 10-Q filed with the SEC on
May 09, 2014. Many of the
factors that will determine the outcome of the subject matter of
this press release are beyond the Company's ability to control or
predict. Except as required by law, the Company is under no
duty to update any of the forward-looking statements after the date
of this press release to conform to actual results.
Contact:
Greg Wood
VirnetX Holding Corporation
775.548.1785
greg_wood@virnetx.com
VirnetX and GABRIEL Connection Technology are trademarks of
VirnetX Holding Corporation. Other company and product names may be
trademarks of their respective owners.
SOURCE VirnetX Holding Corporation