VirnetX Holding Corp (VHC) has experienced an increase of 5.62% in the premarket. However, VHC stands at $4.09 with a decline of 2.39% in the last trading session.
VirnetX Submits Agreed Bill of Costs and Prejudgement Interest
VHC stated on 21 January 2021 that JT has filed a $75,701,763.18 Agreed Bill of Costs and Prejudgment Interest. This is based in connection with the previously reported $502,848,847 jury decision.
Moreover, the ultimate judgment in VirnetX’s favor for Apple infringing products sold in the United States now totals $578,550,610. This cost includes expenses and prejudgment interest. The overall amount of the $0.84 continuing royalty per infringing Apple device is yet to be calculated.
These sums have been agreed upon after the parties met and conferred. Apple has reviewed this submission and does not dispute the amounts provided or that the computations are correct.
VHC Receives $502.8 Million Plus Interest
VHC announced on 15th January 2021 that the United States District Court for the Eastern District of Texas entered a Final Judgment. Moreover, it issued its Memorandum Opinion and Order regarding post-trial motions arising from VirnetX’s prior $502.8 million jury verdict.
Furthermore, the District Court upheld the jury’s $502.8 million decision and granted VirnetX’s requests for pre-and post-trial interest, additional damages, costs, and an ongoing royalty of $0.84 for each infringing iPhone, iPad, and Mac product.
VHC Hires Chief Operating Officer for Japan Licensing
VirnetX KK, the company’s Japanese affiliate, has appointed Darl McBride as Chief Operating Officer (COO) on 11 January 2021. McBride will collaborate with IP Dream, a Japanese strategic technology distributor and service provider, to advance VirnetX’s technology licensing activities in Japan.
McBride previously led Novell’s rapid expansion in Japan, collaborating with Masa Son, Softbank’s founder, and CEO, etc. They worked together to create a Novell-Softbank joint venture that grew into a billion-dollar corporation and Novell’s greatest profit center outside of the Americas.
VHC Awarded $502.8 Million in Apple Suit
VHC reported in November 2020 that a federal jury in the United States District Court for the Eastern District of Texas awarded VirnetX $502,848,847. Lastly, the jury awarded $0.84 each infringing device since the debut of Apple’s iOS 7 operating system in 2013. This equates to 598,629,580 infringing units sold in the United States alone.
