Apple to challenge $368 million patent infringement verdict
Apple will challenge a November 2012 jury verdict that awarded $368 million in damages to Nevada patent-holding company VirnetX, a filing with U.S. regulators showed.
In a Form 10-Q filed this week with the U.S. Securities and Exchange Commission (SEC), Apple said it had not yet recorded the millions owed to VirnetX on its balance sheet.
“The Company is challenging the verdict, believes it has valid defenses and has not recorded a loss accrual at this time,” Apple said in the SEC filing.
VirnetX filed its lawsuit against Apple in August 2010, claiming that Apple’s FaceTime and Message, a video chat application and SMS text-replacement, respectively, infringed on four of its patents. A jury awarded VirnetX $368 million in damages.
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