* VirnetX awarded $368 mln in damages in November
* Court asks companies to negotiate a license
* VirnetX shares up 6 pct
Feb 27 VirnetX Holding Corp, which holds
internet security patents, said a federal court has upheld a
ruling against Apple Inc in a patent infringement
lawsuit and denied the iPhone maker's motion to reduce the $368
million in damages.
VirnetX shares rose 6 percent to $35.91 in morning trading
on the American Stock Exchange on Wednesday.
The court ordered Apple to pay $33,561 in daily interest and
$330,201 in daily damages up to the final judgment, VirnetX said
VirnetX was awarded the damages in November after a federal
jury said Apple's use of the Nevada-based company's
virtual-private-network technology in the FaceTime video-calling
application in iPhone, iPod Touch, iPad and Mac computers had
infringed the company's patents.
VirnetX, which has a market capitalization of $1.74 billion,
accused Apple of infringing four patents.
The U.S. District Court for the Eastern District of Texas,
Tyler Division, denied VirnetX's request for a permanent
injunction and ordered the companies to negotiate a license in
the next 45 days.
"We look forward to negotiating a license with Apple that
includes an ongoing royalty agreement," VirnetX Chief Executive
Kendall Larsen said in a statement.