Apple Must Pay $502.6 Million to VirnetX, Federal Jury Rules
From Bloomberg
VirnetX Holding Corp. won $502.6 million against Apple Inc. after a federal jury in Texas said the maker of iPhones was infringing patents for secure communications, the latest twist in a dispute now in its eighth year.Read more: https://www.bloomberg.com/news/articles/2018-04-10/apple-owes-502-6-million-to-virnetx-says-federal-jury-in-texasVirnetX’s stock rose as much as 44 percent on the news in after hours trading. The company closed at $4.10 per share on Tuesday.
Apple’s stock has seen little change on the news given that the $502.6 million award is minuscule compared to the company’s profits. The company generated $20 billion profit in the first quarter, the company said in February.
I think one big thing that will come of this will be Apple's and possibly other silicon valley titans lobbying for extensive patent reform.
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xoss
Damn, too bad we all missed that VirnetX play for 44%.
This is news, thanks for sharing it. Good luck to you and Love.