ZEPHYR COVE, Nev., Sept. 17, 2012 /PRNewswire/ -- VirnetX™ Holding Corporation (NYSE MKT: VHC), an Internet security software and technology company, today announced that on September 14, 2012, its wholly-owned subsidiary, VirnetX, Inc. has re-filed its complaint with the United States International Trade Commission (ITC) alleging that Apple Inc has engaged in unfair trade practices by the importation, sale for importation, and sale after importation of certain devices with secure communication capabilities that infringe one or more claims of VirnetX's U.S. Patent No. 8,051,181 ("the '181 patent"). The accused products include the latest iPhones, iPads, iPods, and Macintosh computers.
The complaint was filed jointly with Science Applications International Corporation (SAIC) [NYSE :SAI ] to remove a procedural standing issue that was identified as the reason for dismissal of VirnetX's previous complaint. VirnetX had acquired a portion of its portfolio from SAIC in 2006. VirnetX has requested that the ITC institute an investigation into Apple's allegedly infringing imports and ultimately issue an Exclusion Order to bar importation of those Apple products. VirnetX also seeks a Cease and Desist Order to bar further sales and other domestic commercial activities of infringing Apple products that have already been imported. VirnetX expects that the ITC investigation will formally commence on or about October 13, 2012, and that the case will be tried in the second half of 2013.
"We feel confident that our re-filing satisfies all previous ITC issues," said Kendall Larsen, VirnetX CEO and President. "We now look forward to our case schedule and assignment of an Administrative Law Judge. We believe the merits of our complaint are strong and substantial."
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™, 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 the patent portfolio, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's patent portfolio, legal proceedings, licensing efforts , strategy and position in the 4G/LTE network security market. 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™ 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 February 29, 2012 and in the Company's Quarterly Report on Form 10-Q filed with the SEC on August 9, 2012. 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.
VirnetX Holding Corporation
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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