Categories: BankingBusiness

Apple wins reversal of $502 mln VirnetX patent infringement verdict

 Apple Inc on Friday convinced a U.S. appeals court to throw out a $502 million verdict for patent licensing company VirnetX Inc in a long-running fight over internet privacy technology.

The U.S. Court of Appeals for the Federal Circuit said the verdict could not stand after the U.S. Patent Trial and Appeal Board canceled the virtual private network (VPN) patents VirnetX accused Apple of infringing.

The ruling follows the Federal Circuit’s Thursday decision to affirm a U.S. Patent and Trademark Office tribunal’s finding that the patents were invalid.

Apple and VirnetX did not immediately respond to requests for comment.

The two companies have waged a 13-year court battle over VirnetX’s patents that has included several trials and appeals. An East Texas jury awarded VirnetX $502 million in 2020 after finding Apple infringed the patents at issue in the Federal Circuit cases.

VirnetX separately won a $302 million verdict against Apple in East Texas in 2016, which was later increased to $440 million, over related allegations that the tech giant used its internet-security technology in features like FaceTime video calls.

Source : Reuters

GLOBAL BUSINESS AND FINANCE MAGAZINE

Recent Posts

Saudi: FlyAkeed raises $25.15mln in equity and business travel financing for large enterprises

The funding will primarily support a new embedded deferred payment offering that enables a larger…

2 days ago

US private payrolls growth slows in August, ADP says

Private employment rose by 38,000 jobs last month. U.S. private payrolls increased moderately in August,…

2 days ago

European Clean Tech Atlas

The Atlas tracks Europe's clean-tech transformation, showing how adoption, investment and industrial change are unfolding…

2 days ago

Europe’s long-term care gap: longevity risk and health uncertainty

Future EU long-term care demand hinges more on health trajectories than ageing alone, making prevention…

2 days ago

New evidence of strong but slow portfolio responses to equity premium changes

Standard portfolio theory predicts strong investor responses to changes in the equity premium, but empirical…

2 days ago

The implications of climate change for monetary policy

Climate change and the transition to net zero are reshaping the macroeconomy, with important implications…

2 days ago