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
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
