VirnetX joins list of IP firms selling off following White House veto

|About: VirnetX Holding Corporation (VHC)|By:, SA News Editor

VirnetX (VHC -4.3%) has joined InterDigital and Acacia in trading lower after the Obama administration vetoed an ITC sales ban on older iPhones/iPads ruled to be infringing standards-essential Samsung IP.

The ruling has raised concerns about the ITC's effectiveness as a vehicle to pursue infringement complaints, particularly ones involving standards-essential patents.

VirnetX announced in February it would withdraw its ITC complaint against Apple, after obtaining a favorable Texas jury verdict.

In June, the White House announced executive actions and legislative proposals aimed at perceived patent trolls.