VirnetX Receives Payment in Apple Suit
ZEPHYR COVE, Nev., March 13, 2020 – VirnetX™ Holding Corporation (NYSE AMERICAN: VHC), an Internet security software and technology company, announced today that it has received payment of $454,033,859.87, representing the previously announced judgment with interest in the VirnetX Inc. v. Apple case, 6:10-cv-00417 ("Apple I").
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 190 U.S. and Foreign granted patents/validations and pending applications. For more information, please visit www.virnetx.com
Forward Looking Statements
Statements in this 8-K that are not statements of historical or current fact, including the statement regarding VirnetX's damages award, may 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, 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 the results of a pending motion by Apple in the district court seeking to vacate the court's final judgment and efforts by Apple to seek restitution of the payment if relief is awarded. 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 November 8, 2019, and in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 when it is filed. 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.
VirnetX Holding Corporation