AAPL Apple Inc

By Kimberly Chin

Apple Inc. failed to overturn a jury's verdict that would reduce or throw out a $502.8 million payment to VirnetX Holding Corp. over an infringement suit regarding two network security patents.

In October, jurors ruled in favor of VirnetX and found that Apple had infringed on VirnetX's patents related to secure networks features on iPhones and iPads.

The judge affirmed the jury's verdict on Friday and also awarded ongoing royalties of 84 cents per future infringing iPhone, iPad and Mac product.

Apple confirmed it plans to appeal the verdict.

The U.S. District Judge of Tyler, Texas, also denied Apple's request for a new trial.

VirnetX's shares closed up 12% on Friday to $5.69.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

January 15, 2021 18:01 ET (23:01 GMT)

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