Apple to Pay $502.8 Million to VirnetX in Patent Suit -- Update
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 firstname.lastname@example.org
(END) Dow Jones Newswires
January 15, 2021 18:01 ET (23:01 GMT)
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