Trade VirnetX Holding
VirnetX (NYSE: VHC) is an exchange-traded Internet security software and technology company based in Zephyr Cove, Nevada. VirnetX has been described as a troll patent, accused of marketing any actual products or services and instead earning their proceeds by licensing patents and prosecuting anyone that violates them. The company has won intellectual property claims against various technology companies. The company is run by Kendall Larsen and his family. the company's patent portfolio includes U.S. and international patents in areas such as DNS and network communications. Since 2010, VirnetX has been in a lawsuit with companies including Apple, Cisco and Microsoft. Separately, in December 2014, Microsoft and VirnetX settled patent disputes over Skype technology for $23 million. In apple's case, VirnetX worked with SAIC and awarded $368 million in damages for the FaceTime violation. This provision was partially vacated in August 2014, but the United States Federal Court of Appeals for the Federal Circuit confirmed the violation of two patents. In December 2014, VirnetX opened access to their Gabriel platform, which builds on their patents, and is implemented as a collaboration of SMEs. Apple appealed its rulings in state and federal courts and demanded a jury trial in the Vertnet X case. In February 2016, an East Texas jury unanimously ruled in a federal court that Apple intentionally violated 13 patents from VirnetX. Jury said Apple should pay VirnetX $625.6 million To violate four patents, the court is examining current royalty rates and punitive damages. At Apple's request, the ruling was overturned in August 2016 and the case was retried for the separation of patents into two groups. VirnetX filed an injunction to block sales of Facetime and iMessage, claiming that its own platforms are suffering.