Shares of VirnetX (VHC) - Get VirnetX Holding Corporation Report jumped in after-hours trading Tuesday after the company won a legal round in a long running case with Apple (AAPL) - Get Apple Inc. (AAPL) Report over a $439 million patent infringement judgment.
VirnetX shares rose $1.07 or 21%, to $6.28 in after-hours action.
The U.S. Court of Appeals for the Federal Circuit denied two motions by Apple Tuesday. One had asked the court to vacate an earlier ruling denying a rehearing of the case. The second motion had asked the court to wait to impose the judgment while it considered the first motion, as well as other related legal proceedings.
In 2016 VirnetX won a $439.8 million judgment against Apple in U.S. District Court for the Eastern District of Texas for infringing on patents related to technology for VPN on-demand services and Facetime.
Representatives of Apple didn't immediately respond to an email seeking comment. Apple shares rose 0.18% after hours, to $225.00.
Apple is a holding in Jim Cramer's AAP Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells these stocks? Save 57% during our fall sale: Join the Action Alerts PLUS investment club to become a smarter investor. Click here to sign up and save.