ZEPHYR COVE, Nev., Aug. 1, 2016 /PRNewswire/ -- VirnetX™
Holding Corporation (NYSE MKT: VHC), an Internet security software
and technology company, announced today that on July 29, 2016, the United States District Court
for the Eastern District of Texas,
Tyler Division, issued a new order in the Company's pending
litigation, Case No. 6:10-cv-417 ("Apple I") and, Case No.
6:12-cv-855 ("Apple II"), against Apple Inc., vacating it's
previous order consolidating the two cases and ordering the parties
to retry them as separate cases. According to the order, Apple I is
now scheduled for Jury selection on September 26, 2016, unless the parties agree
otherwise on an alternative date, and Apple II will now be retried
after Apple I. The issue of willfulness in each case has been
bifurcated and will be tried separately after each trial.
"We are disappointed by the Court's decision to vacate its prior
ruling on consolidation and ordering the parties to retry the cases
as two separate matters," said Kendall
Larsen, VirnetX CEO and President. "We are reviewing
all our options and will follow the Court's direction as we start
preparing for these retrials. We are confident that we have the
resources required for these retrials. We trust that the jury will
again make the right decision in the retrials."
VirnetX has two currently-pending patent infringement lawsuits
against Apple Inc., in United
States Court for the Eastern District of Texas, Tyler Division. The Apple I case
includes unresolved remanded issues related to (1) damages owed to
VirnetX for infringement by Apple's original VPN-on-Demand (VOD)
and (2) the alleged infringement, damages and willfulness of
Apple's original FaceTime product. The Apple II case covers issues
of alleged infringement, damages and willfulness by Apple's
redesigned VOD in iOS 7 and 8, the redesigned FaceTime in iOS 7 and
8 and OS X 10.9 and 10.10 and iMessage.
About VirnetX
VirnetX Holding Corporation is an Internet security software and
technology company with patented technology for secure
communications including 4G LTE 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 Quarterly Report on Form 10-Q filed with the SEC on
May 10, 2016. 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
VirnetX, Gabriel Collaboration Suite, Gabriel Secure
Communications Platform and GABRIEL Connection Technology are
trademarks of VirnetX Holding Corporation. Other company and
product names may be trademarks of their respective owners.
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SOURCE VirnetX Holding Corporation