VirnetX shares up 13% after jury tells Apple to pay $503M in patent damages

Nov. 02, 2020 8:13 AM ETVirnetX Holding Corp (VHC)AAPL, VHCBy: Brandy Betz, SA News Editor10 Comments
  • VirnetX (NYSE:VHC) shares are up 13% pre-market to $6.26 after news broke late Friday that a jury decided Apple (NASDAQ:AAPL) mst pay the company $502.8M for patent infringement.
  • In the patent dispute, which has lasted for a decade, VirnetX claimed Apple's VPN on Demand and FaceTime were using its patents.
  • The jury was only deciding on the VPN on Demand part. VHC told the jury it should receive more than $700M, while Apple offered about $113M or $0.19/unit. The jury decided on $0.84/unit.
  • Previously: VirnetX shares slide on damages trial delay (Aug. 10 2020)

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