ZEPHYR COVE, Nev., April 12, 2018 /PRNewswire/ -- VirnetX™ Holding
Corporation (NYSE AMERICAN: VHC), an Internet security software and
technology company, announced today that a jury in the United States Court for the Eastern
District of Texas, Tyler Division,
in the case VirnetX Inc., et al. v. Apple Inc., No.
6:12-CV-00855-LED) ("Apple II") has awarded VirnetX
$502.6 million in a verdict
against Apple Corporation for infringing four VirnetX patents,
marking the fourth time a federal jury has found that Apple has
infringed VirnetX's patented technology. The jury also found that
Apple willfully infringed VirnetX's patents.
The verdict covers issues of infringement by Apple's redesigned
VOD (VPN on Demand) in iOS 7 to iOS 11, the redesigned FaceTime in
iOS 7 to iOS 11 and OS X 10.9 and later.
"We are extremely pleased with the jury's verdict. We believe
that by standing on truth and integrity the verdict is fair and
appropriate," said Kendall Larsen,
VirnetX CEO and President. "This is the fourth time a jury
has confirmed that Apple has been using the technology developed by
our inventors."
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, smart phones, eReaders and video
conferencing. The Company's patent portfolio includes over 115 U.S.
and international patents and over 50 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, including pending and future inter partes review
proceedings in the Patent and Trademark Office and appeals
therefrom; (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-K filed with the SEC on
March 16, 2018. 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:
Investor Relations
VirnetX Holding Corporation
775.548.1785
ir@virnetx.com
VirnetX, Gabriel Collaboration Suite, Gabriel Secure
Communications Platform and GABRIEL Connection Technology are
trademarks of VirnetX Holding Corporation. Other company and
product names may be trademarks of their respective owners.
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SOURCE VirnetX Holding Corporation