VirnetX confirms $502.6 million award from patent case win against Apple

VirnetX Holding Corp. VHC, -10.33% confirmed Thursday that it was awarded $502.6 million after a jury found that Apple Inc. AAPL, +1.14% infringed on its patented technology. The U.S. Court for the Eastern District of Texas found that Apple "willfully" infringed on four of the internet security software company's patents, marking the fourth time Apple has infringed on VirnetX's patents. The latest verdict covers infringement by Apple's redesigned virtual private network on demand (VOD) in its iOS 7 to iOS 11 operating systems, the redesigned FaceTime in iOS 7 to iOS 11 and OS X 10.9 and later. VirnetX shares dropped 5.5%, after soaring 12.2% on Wednesday after media reports that Apple must pay VirunetX $502.6 million over infringed patents. Apple's stock gained 0.7%, after slipping 0.5% on Wednesday. VirnetX's stock has run up 17.5% year to date, while Apple shares have gained 2.5% and the S&P 500 SPX, +0.85% has eased 0.6%.