NEW YORK (TheStreet) -- VirnetX Holding Corp. (VHC) - Get Reportstock is up by 64.93%% to $7.90 on heavy trading volume on Thursday morning, after Apple (AAPL) was ordered to pay the technology company $625.6 million as part of a patent-infringement lawsuit.
A jury in the Eastern District of Texas ruled that Apple infringed on four VirnetX patents, the company said in a statement. Apple's modified VPN On-Demand, iMessage and FaceTime services were found to infringe VirnetX's patents, according to the statement.
"Cases like this simply reinforce the desperate need for patent reform," an Apple spokeswoman told the Wall Street Journal.
It is the second time a federal jury has found that Apple has infringed on VirnetX patents, VirnetX said.
So far today, 3.85 million shares of VirnetX have traded, versus its 30-day average of about 986,000 shares.