VirnetX Holding Corporation (NYSEMKT:VHC) shares are up over 25% this morning after the company released news of a court order in relation to the company’s lawsuit with Apple (NASDAQ:AAPL) over patent infringement.
The news release really didn’t say much at all, but it does bring attention to investors who may not have known about the pending patent lawsuit that VirnetX Holding Corporation (NYSEMKT:VHC) has with Apple (AAPL).
VirnetX Holding Corporation (NYSEMKT:VHC)’s patent battles with Apple date back a few years, and include Case 6:12-cv-00855-LED in which the company supplemented its infringement contentions to include several Apple devices such as the iPhone 5C, iPad Mini, iPad Air, MacBook Pro, and more.
“We are pleased to have these extensive issues in the case resolved by the Court,” said Kendall Larsen, VirnetX CEO and President. “We look forward to presenting our case to a jury on January 25th, 2016.”
The stock is up 25.00% or $0.5 following the news, hitting $2.5 per share. About 1.05M shares traded hands or up 67.16% from the average. VHC has declined 57.81% since June 8, 2015 and is currently downtrending. It has underperformed the S&P500 by 50.32%.
VirnetX Holding Corporation is an Internet security software and technology Company with patented technology for secure communications including 4G LTE security. The company has a market cap of $131.96 million. The Company’s software and technology solutions, including its secure domain name registry and GABRIEL Connection Technology, are designed to facilitate secure communications and provide the security platform required by Internet applications, such as instant messaging , voice over Internet protocol (VoIP), mobile services, streaming video, file transfer, remote desktop and machine-to-machine (M2M) communications. It currently has negative earnings. The Company’s portfolio is primarily focused on securing communications over the Internet, as well as related services, such as the establishment and maintenance of a secure domain name registry.