VIRNETX LOSES PATENT INFRINGEMENT CASE
VirnetX, a company that makes money off of licensing patents, recently sued Apple for patent and copyright infringement in the cases of FaceTime and iMessage. A positive verdict would have had a reward of $625.6 million, the highest amount ever recorded in a patent infringement case. Despite an initial positive verdict from the state judge and the jury, a federal judge voided the verdict, saying that the plaintiff’s continual references to the previous jury’s decision would have stacked the floor against Apple. VirnetX stock dropped 44.6% to $2.14. It is now trading at $2.40.