VirnetX Plunges After Patents Deemed Invalid in Apple Dispute
- U.S. patent office says all four patents are invalid.
- Apple patent case scheduled for retrial in Texas Sept. 26.
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VirnetX Holdings Corp. plunged almost 14 percent on Friday after four of the patents it claimed Apple Inc. had infringed were deemed invalid by the U.S. Patent and Trademark Office.
The patents don’t cover new inventions, the Patent Trial and Appeal Board said in a series of decisions. Two of the rulings were based on challenges filed by Apple, while the other two were based on petitions filed by hedge fund Mangrove Partners LLC.