VirnetX Holding Shares Rise 7% After Favorable Motion Against Apple
September 02 2020 - 1:00PM
Dow Jones News
By Chris Wack
VirnetX Holding Corp. shares were up 7% to $5.48 after the
company said in a regulatory filing the U.S. District Court for the
Eastern District of Texas denied a Rule 60(b) motion for relief
from judgment brought by Apple Inc. in the VirnetX Inc. versus
Apple case.
In February, the U.S. Supreme Court denied Apple's petition for
a writ of certiorari seeking review of the judgment of the U.S.
Court of Appeals for the Federal Circuit in the case.
VirnetX said the underlying judgment in the case awarded it
$439.8 million in damages, fees and interest.
On Oct. 16, 2017, Apple signed an agreement with VirnetX
stipulating Apple would pay any payments then due under the
judgment within 20 days of completion of any appeal of the judgment
in this matter, as well as any proceedings seeking relief from the
judgment before the Supreme Court.
The companies have been involved in legal proceedings for about
10 years.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 02, 2020 12:45 ET (16:45 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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