Overall Summary: Virnetx vs Apple
The case between Virnetx and Apple has come to a close in a classic Texas showdown, precisely East Texas.
Essentially, Apple's heavily utilized services: FaceTime, iMessage, and Apple VPN were under scrutiny by VirnetX. The patent-troll claims Apple infringed on their patents. Specifically, the case involved 4 patents that VirnetX sued Apple for infringement on networking applications.
Who is VirnetX?
VirnetX is "an Internet security software and technology company with patented technology for 4G LTE security” (CNN). Apple, with its speedy services, became a victim of this "patent-troll". Specifically, VirnetX acquired these 4 patents from a science company for a nominal price and utilized them to attack Apple.
The damages of $626 million against Apple come as a huge jackpot to Virnetx. The company only has 14 employees and relies on major wins like this to continue profiteering. On the stock market side, its stock is currently floating around $7 dollars for a market capitalization of $300 million.
Meanwhile, Apple has thousands of employees globally, produces new products annually, and has a stock price around $93, with a market capitalization above $500 billion.
VirnetX reiterated their victory, “We are thankful for the jurors’ hard work and attention in this case, and for reaching a just verdict,” said their lawyer Jason Cassidy. “The jury saw what we have been saying all along: Apple has been infringing VirnetX’s patented technology for years.” (Are Technica).
After a failed appeal by Apple, a few years in court, the company is going to be up $626 million!
Link to Plantiff Settlement from US Court
Essentially, Apple's heavily utilized services: FaceTime, iMessage, and Apple VPN were under scrutiny by VirnetX. The patent-troll claims Apple infringed on their patents. Specifically, the case involved 4 patents that VirnetX sued Apple for infringement on networking applications.
Who is VirnetX?
VirnetX is "an Internet security software and technology company with patented technology for 4G LTE security” (CNN). Apple, with its speedy services, became a victim of this "patent-troll". Specifically, VirnetX acquired these 4 patents from a science company for a nominal price and utilized them to attack Apple.
The damages of $626 million against Apple come as a huge jackpot to Virnetx. The company only has 14 employees and relies on major wins like this to continue profiteering. On the stock market side, its stock is currently floating around $7 dollars for a market capitalization of $300 million.
Meanwhile, Apple has thousands of employees globally, produces new products annually, and has a stock price around $93, with a market capitalization above $500 billion.
VirnetX reiterated their victory, “We are thankful for the jurors’ hard work and attention in this case, and for reaching a just verdict,” said their lawyer Jason Cassidy. “The jury saw what we have been saying all along: Apple has been infringing VirnetX’s patented technology for years.” (Are Technica).
After a failed appeal by Apple, a few years in court, the company is going to be up $626 million!
Link to Plantiff Settlement from US Court
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