After roughly seven years of ongoing back-and-forth, Apple Inc. (AAPL) - Get Report has finally been notified of the total amount it will be forced to pay VirnetX Holding Corp. (VHC) - Get Report in the two companies' ongoing patent battle.
VirnetX announced Monday, Oct. 16, that an appellate court issued a final judgement that slapped Apple with a $440 million fine.
The total final judgement of $440 million includes the jury verdict of $302.4 million announced last year, plus additional willful infringement of $41.3 million, or $1.80 in royalties per infringed device sold. The sum also includes interests, costs and attorney fees of $96 million.
The dispute, which started in August 2010, was over secure communications protocols Apple used in FaceTime and other applications. It's not the first time VirnetX has sued a major tech firm for patent infringement. The Nevada-based company successfully sued Microsoft Corp. (MSFT) - Get Report for $200 million and recently entered into a "patent standstill" deal with HTC Corp. (HTCXF) as the two negotiate deals.
VirnetX noted that Apple lost all of its appellate motions, which included motion for judgment as a matter of law of non-infringement, motion for judgment as a matter of law on damages, motion for a new trial on infringement and motion for a new trial on damages.
VirnetX stock was down 0.71% to $6.95 in midday trading Monday. Apple stock was up 1.43% to $159.23.
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