VHC - Why VirnetX Is Tumbling Today
Shares of VirnetX (NYSEMKT: VHC) were falling over 10% late in the afternoon Monday despite the company winning a judgment against Apple (NASDAQ: AAPL) for patent infringement.
VirnetX was awarded $503 million because a jury found Apple's VPN on demand for FaceTime violated patents it held for secure communications -- the second time it has been awarded a substantial sum of money from Apple. But VirnetX had been seeking $700 million.
The cases have been dragging on in the courts for a decade now and the market may be realizing that the easy money has been made. With Apple's cases coming to a close, there might not be many more verdicts of a substantial amount in VirnetX's favor in the future.
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Why VirnetX Is Tumbling Today