VirnetX Shares Up 10% After Supreme Court Rejects Apple's Appeal
February 24 2020 - 12:50PM
Dow Jones News
By Chris Wack
VirnetX Holding Corp. shares rose 11% to $4.50 after the U.S.
Supreme Court denied Apple's petition for a writ of certiorari
seeking review of the judgment of the U.S. Court of Appeals for the
Federal Circuit in case 2018-1197.
The underlying judgment in the case awarded VirnetX $439.8
million in damages, fees, and interest.
"We are extremely pleased with the Supreme Court's decision not
to hear Apple's writ of certiorari," said Kendall Larsen, VirnetX
chief executive and president.
On Oct. 16, 2017, Apple signed an agreement with VirnetX
stipulating Apple would pay any payments then due under the
judgment within 20 days of completion of any appeal from the
judgment in this matter, as well as any proceedings seeking relief
from the judgment before the Supreme Court.
The companies have been involved in legal proceedings for 10
years.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 24, 2020 12:35 ET (17:35 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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