ZEPHYR COVE, Nev., Aug. 1, 2019 /PRNewswire/ -- VirnetX™
Holding Corporation (NYSE AMERICAN: VHC), an Internet security
software and technology company, announced today that the U.S.
Court of Appeals for the Federal Circuit issued two decisions in
appeals brought by VirnetX:
The Federal Circuit issued an order denying Apple's petition for
panel and en banc rehearing in Appeal No. 2018-1197, in which the
court of appeals previously affirmed the judgement issued by the
U.S. District Court for the Eastern District of Texas in favor of VirnetX in its litigation
against Apple. The district court judgement awarded VirnetX a
total of $439.8 million, including
damages for willful infringement and attorney fees.
The Federal Circuit issued an opinion in Appeal Nos. 2017-1591,
2017-1592, 2017-1593 as to decisions by the U.S. Patent &
Trademark Office's Patent Trial and Appeal Board in three inter
partes reexamination proceedings that had found unpatentable
claims of U.S. Patent Nos. 7,418,504 and 7,921,211. The court
of appeals agreed with VirnetX that the Patent Board could not
maintain two of those reexaminations (initiated by Apple Inc.) with
respect to claims as to which there has been a prior "final
decision" on patent validity entered by a federal court. The
Federal Circuit instructed the Patent Board to terminate those
reexamination proceedings with respect to claims 1–35 of the '504
patent and claims 36–59 of the '211 patent. The court
affirmed the Patent Board with respect to the remaining issues.
"We are extremely pleased with the Federal Court's decisions,
which vindicate many of VirnetX's positions before both the Patent
Board and the district court," said Kendall
Larsen, VirnetX CEO and President. "These decisions
follow the Federal Circuit's recent decisions in two other appeals
that similarly vacated a number of the Patent Board's invalidity
rulings with respect to VirnetX's patents on the basis of our
arguments. Furthermore, we believe that Apple clearly and
willfully infringed the claims upheld by the Federal Court."
About VirnetX
VirnetX Holding Corporation is an Internet security software and
technology company with patented technology for secure
communications including 4G LTE and 5G security. The Company's
software and technology solutions, including its secure domain name
registry and Gabriel Connection Technology™, are designed to
facilitate secure communications and to create a secure environment
for real-time communication applications such as instant messaging,
VoIP, smart phones, eReaders and video conferencing. The Company's
patent portfolio includes over 115 U.S. and international patents
and over 50 pending applications. For more information, please
visit www.virnetx.com
Forward Looking Statements
Statements in this press
release that are not statements of historical or current fact,
including statements regarding the strength of VirnetX's
intellectual property, constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements are based on
expectations, estimates and projections about the markets in which
the Company operates, management's beliefs, and certain assumptions
made by management and involve known and unknown risks,
uncertainties and other unknown factors that could cause the actual
results of the Company to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements, including but not limited to
(1) the outcome of any legal proceedings that have been or may be
initiated by the Company or that may be initiated against the
Company, including pending and future inter partes review
proceedings in the Patent and Trademark Office; (2) the ability to
capitalize on the Company's patent portfolio and generate licensing
fees and revenues; (3) the ability of the Company to be successful
in entering into licensing relationships with its targeted
customers on commercially acceptable terms; (4) potential
challenges to the validity of the Company's patents underlying its
licensing opportunities; (5) the ability of the Company to achieve
widespread customer adoption of the Company's Gabriel Communication
Technology™ and its secure domain name registry; (6) the level of
adoption of the 3GPP Series 33 security specifications; (7) whether
or not the Company's patents or patent applications may be
determined to be or become essential to any standards or
specifications in the 3GPP LTE, SAE project or otherwise; (8) the
extent to which specifications relating to any of the Company's
patents or patent applications may be adopted as a final
standard, if at all; and (9) the possibility that Company may be
adversely affected by other economic, business, and/or competitive
factors. In addition to statements which explicitly describe
such risks and uncertainties, readers are urged to consider
statements labeled with the terms "believes," "belief," "expects,"
"intends," "anticipates," or "plans" to be uncertain and
forward-looking. The forward-looking statements contained
herein are also subject generally to other risks and uncertainties
that are described from time to time in the Company's reports and
registration statements filed with the Securities and Exchange
Commission, including those under the heading "Risk Factors" in
Company's Annual Report on Form 10-K filed on March 19, 2019 and Quarterly Report on Form 10-Q
filed with the SEC on May 10, 2019.
Many of the factors that will determine the outcome of the subject
matter of this press release are beyond the Company's ability to
control or predict. Except as required by law, the Company is
under no duty to update any of the forward-looking statements after
the date of this press release to conform to actual results.
Contact:
Investor Relations
VirnetX Holding Corporation
775.548.1785
ir@virnetx.com
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