Apple must pay $ 502.6 milli to the patent holding company (read: "patent troll") VirnetX Holding Corp., a Texas federal jury ordered.
This is the last installment in a dispute that now extends back eight years. The patents that Apple allegedly infringed include those related to secure communicatis, used by FaceTime, VPN Demand and iMessage.
Speaking after the decisi, VirnetX's CEO, Kendall Larsen, said the verdict was right. "The evidence was clear," said Larsen. "Tell the truth and you do not have to worry about anything." In the aftermath of the verdict, VirnetX's shares rose to 44% to close at $ 4.10 per share.
The company is reporting just over $ 1 milli in revenue last year; a small amount compared to the $ 20 billi pure profit of Apple in the first quarter of 2018. Nevertheless, investors are optimistic about what the payment of Apple will do for business.
The stalemate with VirnetX ctinues …