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VirnetX Shares Rise on Microsoft Patent Suit Ruling (Update1)
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By William McQuillen
July 31 (Bloomberg) -- VirnetX Holding Corp., the developer of instant-messaging and Internet-calling software, as much as tripled after a federal judge made favorable rulings in a patent infringement lawsuit against Microsoft Corp.
VirnetX, based in Scotts Valley, California, rose as much as 3.25 to $4.73, and was up $1.95, or 132 percent, to $3.43 when trading was halted at 11:05 a.m. on the American Stock Exchange.
U.S. District Judge Leonard Davis yesterday sided with VirnetX in the defining of key terms in patents it claims are infringed by Microsoft.
The dispute is over secure computer network communications in a virtual private network. The VirnetX patents relate to using a domain-name service to set up such a network. A trial is set for March 2010.
The case is VirnetX Inc. vs. Microsoft Corp., 07-cv-60, U.S. District Court for the Eastern District of Texas (Tyler).
To contact the reporter on this story: William McQuillen in Washington at
bmcquillen@bloomberg.net.