Apple Owes VirnetX $502M for Patent Infringements

Caldwell Cassady & Curry Helps VirnetX Win $502.6 Million Verdict Against Apple

A federal court in the state of Texas has reportedly asked Apple Inc.to pay almost Dollars 502.6 million to patent troll VirnetX, for the infringement of its four patents associated with secure internet communications.

"The Patent Trial and Appeal Board has said the patents are invalid, in cases that are now before the US Court of Appeals for the Federal Circuit in Washington, "Bloomberg reported".

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VirnetX is a patent-assertion entity, meaning its entire business model rests exclusively on suing companies that actually develop and sell products based on arcane patent infringement laws and loose interpretations of intellectual property regulations.

"The evidence was clear", VirnetX chief Kendall Larsen said after the court's decision was announced. "Tell the truth and you don't have to worry about anything". That verdict was thrown out by the judge, who didn't approve of VirnetX lawyers' references to the 2012 trial.

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As Bloomberg reports, four patents are involved in the dispute, all relating to secure communications used by Apple's FaceTime, iMessage, and VPN on Demand.

The legal battle started in 2010 and had bounced between courts and trials.

Amazon.com, Inc. (AMZN)
The current share price indicates that stock is -10.25% away from its one year high and is moving 64.13% ahead of its 52-week low. The firm owned 3,815 shares of the e-commerce giant's stock after purchasing an additional 162 shares during the period.

If this feels familiar, it's because we've been here before, and Apple isn't VirnetX's only target. A jury had already awarded VirnetX $302 million, which was later increased to $439.7 million and has now gone up to $502.6 million. Since that time, there have been numerous trials and appeals. The company's stock rose 44 percent today on news of the federal ruling in its favor, Bloomberg says.

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