|seekingalpha.com shares up 13% after jury tells Apple to pay $503M in patent damages|
Nov. 2, 2020 8:13 AM ET|About: VirnetX Holding Corp (VHC)|By: Brandy Betz, SA News Editor
VirnetX (NYSE: VHC) shares are up 13% pre-market to $6.26 after news broke late Friday that a jury decided Apple (NASDAQ: AAPL) mst pay the company $502.8M for patent infringement.
In the patent dispute, which has lasted for a decade, VirnetX claimed Apple's VPN on Demand and FaceTime were using its patents.
The jury was only deciding on the VPN on Demand part. VHC told the jury it should receive more than $700M, while Apple offered about $113M or $0.19/unit. The jury decided on $0.84/unit.