Apple ordered to pay $502.6 million in patent infringement case

Apple ordered to pay patent troll VirnetX $502.6M in ongoing infringement case

A federal jury in East Texas has found that Apple is guilty of infringing secure communications patents belonging to VirnetX Holding Corp., a notorious patent troll that has been battling Apple in court for almost eight years now. The company closed at $4.10 per share on Tuesday.

Apple has been dealt what may be a short-lived blow in a long-fought battle with VirnetX. As a result, Apple has been ordered to pay damages to the tune of $502.6 million.

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Yesterday (9 April), a jury at the US District Court for the Eastern District of Texas found that Apple had infringed four VirnetX patents with its FaceTime application.

There have been multiple trials between the companies, most recently one involving earlier versions of the Apple devices. Coming after eight years of legal wranglings, the ruling saw VirnetX stock rise by as much as 44 percent and CEO Kendall Larsen is pleased with the verdict.

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In its argument, the defence said the papers contained only publicly available information and could not be deemed secret. The reporters were arrested for allegedly collecting classified documents from their sources in the police.

Apple is yet to comment on the case, but things are not necessarily clear cut for VirnetX; around 18 months ago, the Patent Trial and Appeal Board said that the patents were invalid. The Patent Trial and Appeal Board has said the patents are invalid, in cases that are now before the U.S. Court of Appeals for the Federal Circuit in Washington. At the time, Apple said it would appeal.

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Mcdaniel Terry & Co decreased its stake in Microsoft ( MSFT ) by 1.06% based on its latest 2017Q4 regulatory filing with the SEC. Foster & Motley Inc, which manages about $913.18M and $625.77M US Long portfolio, upped its stake in Synnex Corp.

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