VirnetX Scores on Patent Troll Case Against Apple
ThinkstockVirnetX Holding Corp (NYSEMKT: VHC) is showing just how great it can be to be a patent troll. Shares are surging on news that it has won a verdict against Apple Inc. (NASDAQ: AAPL) over patent disputes pertaining to Apple’s Face…
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VirnetX Holding Corp (NYSEMKT: VHC) is showing just how great it can be to be a patent troll. Shares are surging on news that it has won a verdict against Apple Inc. (NASDAQ: AAPL) over patent disputes pertaining to Apple’s Face Time. VirnetX already has a patent license deal with Microsoft Corp. (NASDAQ: MSFT), and other licensees are Aastra, NEC and Mitel.
Today is simply Apple’s turn to be in the barrel. With Apple’s $100+ billion in cash, this is not even a mosquito bite. But for a small company like VirnetX with a market value of under $1.7 billion, a $368 million verdict will go quite a long way. The surge is being enhanced by the notion that Apple infringed four VirnetX patents.
The court will hear the post-trial motions in the upcoming weeks, which means this is not exactly the end of it.
VirnetX shares are up over 24% at $32.65 after the open, but the intellectual property company’s 52-week trading range is $18.20 to $41.93.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
