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VHC / VirnetX stock takes sharp U-turn into the red after appeals court said two patents were ‘unpatenable,' but special dividend remains intact

Shares of VirnetX Holding Corp. VHC, -13.82% have pulled a sharp about face Thursday, to tumble 14.0% in afternoon trading after rocketing as much as 57.6% at at its intraday high, after the internet security software company confirmed that an appeals court invalidated two patents, that were part of a patent litigation with Apple. The stock initially soared Thursday after the internet security software company declared a special cash dividend of $1 a share, said it had reached a cooperation agreement with certain shareholders to distribute 80% of any future proceeds from its patent litigation with Apple Inc. AAPL, +0.79% and said it was “confident” that it was close to a final outcome of the litigation. Read More

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Virnetx

Stock

Takes

Sharp

Turn

Into

After

Appeals

Court

U turn

Patents

unpatenable

Special

Dividend

Remains

Intact

VHC

Posted: Mar 30 2023, 15:44

Author Name: Market Watch

VHC News

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