VirnetX Holding Corp (AMEX: VHC) is trading higher on news that the ITC is investigating its complain that Apple Inc. (NASDAQ: AAPL) bringing in products into the United States which violate some of its patents. The report is actually a review and specifies “the USITC has not yet made any decision on the merits of the case” but the review alone is enough for patent speculators.
The notice is below:
The U.S. International Trade Commission (USITC) has voted to institute an investigation of certain devices with secure communication capabilities, components thereof, and products containing the same. The products at issue in this investigation are devices with secure communication applications installed in various electronic devices to create a secure communication environment between two devices when in use by consumers.
The investigation is based on a complaint filed by VirnetX, Inc., of Zephyr Cove, NV, on November 4, 2011. The complaint alleges violations of section 337 of the Tariff Act of 1930 in the importation into the United States and sale of certain devices with secure communication capabilities, components thereof, and products containing the same that infringe a patent asserted by the complainant. The complainant requests that the USITC issue an exclusion order and cease and desist orders.
The USITC has identified Apple, Inc., of Cupertino, CA, as the respondent in this investigation.
By instituting this investigation (337-TA-818), the USITC has not yet made any decision on the merits of the case. The USITC’s Chief Administrative Law Judge will assign the case to one of the USITC’s six administrative law judges (ALJ), who will schedule and hold an evidentiary hearing. The ALJ will make an initial determination as to whether there is a violation of section 337; that initial determination is subject to review by the Commission.
VirnetX stock is up 6.1% at $20.74 and the 52-week range is $11.02 to $41.77.
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