VirnetX Wins $302 Million From Apple, Stock Up 50%

Shares of VirnetX Holding Corporation (NYSE: VHC), an internet security software and technology company, announced it won a patent case against Apple Inc. (NASDAQ: AAPL)

According to Reuters, a federal jury court in Texas ordered Apple to pay VirnetX more than $302 million in damages for using its patented internet security technology in its FaceTime video conference without the necessary permission.

VirnetX's litigation against Apple dates back to 2010 when VirnetX claimed infringement of four patents relating to secure networks and secure communications links. In 2012, a jury awarded $368.2 million in damages but the U.S. Court of Appeals partly overturned the verdict because there were issues with how the trial judge instructed jurors on how to calculate damages.

Another suit brought on against Apple by VirnteX was combined with the 2012 case and a jury slapped an even larger $625.6 million verdict against Apple. However, these results were also voided on the notion that references to the 2012 case confused jurors and was unfair to Apple.

As noted by Reuters, the most recent trial proceeded as ViirtnetX expected with a $302.5 million award. The juror were this time requested to determine damages on two VirtnetX patents that Apple had been previously found guilty of infringing.

The stock was up about 47 percent at $4.49 Monday morning.