VirnetX Files Motion for New Trial on Cisco's Infringement Based on Allegations of Cisco's Inappropriate Conduct at Trial
ZEPHYR COVE, Nev., April 3, 2013 /PRNewswire via COMTEX/ -- VirnetX(TM) Holding Corporation (NYSE MKT: VHC), an Internet security software and technology company, today announced that on April 3, 2013, VirnetX has filed a request for a new trial regarding Cisco's infringement of the '759, '504, '211, and '135 patents based primarily on VirnetX's allegations of Cisco's inappropriate conduct and arguments during the jury trial that concluded on March 14, 2013. In addition to the request for a new trial, VirnetX has moved for a judgment as a matter of law on Cisco's infringement of the '759 patent.
The requested relief in the motions will not affect the Judgment against Apple.
"VirnetX fully believes in the jury system. We hope that with a new trial, a jury can decide the issues of infringement and damages based on the judge's instructions and the merits of our claim," said Kendall Larsen, VirnetX CEO and President. "These events will not deter our licensing efforts to the 4G LTE mobile markets." About VirnetX VirnetX Holding Corporation is an Internet security software and technology company with patented technology for secure communications including 4G LTE security. The Company's software and technology solutions, including its secure domain name registry and GABRIEL Connection Technology(TM), are designed to facilitate secure communications and to create a secure environment for real-time communication applications such as instant messaging, VoIP, smart phones, eReaders and video conferencing. The Company's patent portfolio includes 20 U.S. and 26 international patents and over 100 pending applications. For more information, please visit www.virnetx.com.
Forward Looking Statements Statements in this press release that are not statements of historical or current fact, including statements regarding the strength of Virnetx's intellectual property, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on expectations, estimates and projections about the markets in which the Company operates, management's beliefs, and certain assumptions made by management and involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements, including but not limited to (1) the outcome of any legal proceedings that have been or may be initiated by the Company or that may be initiated against the Company; (2) the ability to capitalize on the Company's patent portfolio and generate licensing fees and revenues; (3) the ability of the Company to be successful in entering into licensing relationships with its targeted customers on commercially acceptable terms; (4) potential challenges to the validity of the Company's patents underlying its licensing opportunities; (5) the ability of the Company to achieve widespread customer adoption of the Company's GABRIEL Communication Technology(TM) and its secure domain name registry; (6) the level of adoption of the 3GPP Series 33 security specifications; (7) whether or not the Company's patents or patent applications may be determined to be or become essential to any standards or specifications in the 3GPP LTE, SAE project or otherwise; (8) the extent to which specifications relating to any of the Company's patents or patent applications may be adopted as a final standard, if at all; and (9) the possibility that Company may be adversely affected by other economic, business, and/or competitive factors. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission, including those under the heading "Risk Factors" in Company's Annual Report on Form 10-K filed with the SEC on March 1, 2013. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the Company's ability to control or predict. Except as required by law, the Company is under no duty to update any of the forward-looking statements after the date of this press release to conform to actual results.
Contact:Greg WoodVirnetX Holding Corporation775.firstname.lastname@example.org VirnetX and GABRIEL Connection Technology are trademarks of VirnetX Holding Corporation. Other company and product names may be trademarks of their respective owners.
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