VirnetX shares double on Microsoft patent litigation development

virnetx-logoShares of VirnetX, the developer of Internet-calling and instant messaging software that sued Microsoft in 2007 claiming the software giant infringed three of its patents, doubled in value today after the Scotts Valley company reported that the federal court hearing the suit had issued a “Markman” order that adopted interpretations of the patent claim language that it deemed favorable to its own claims.

“We are extremely pleased with the Court’s Markman Order.  We remain confident in our position concerning Microsoft’s infringement of the patents at issue,” said VirnetX Chief Executive Kendall Larsen in a statement. “While the outcome of this and any legal matter is unpredictable, we believe the Court’s Markman Order is another significant step towards the successful resolution of this litigation and further validates VirnetX’s ongoing commitment to the enforcement of our intellectual property and protection of our investment in patent-protected licensing and research and development.”

Investors evidently agreed. VirnetX stock jumped $1.52, or 102 percent, to $3.

In June, VirnetX announced retaining the Texas-based law firm McKool Smith to lead its litigation against Microsoft. The firm has a track record of successful verdicts against Microsoft.

 

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