Why Shares of VirnetX Jumped Today

Shares of VirnetX Holding (NYSEMKT: VHC) rose on Wednesday after the company provided an update on its ongoing legal battle with Apple (NASDAQ: AAPL). The stock was up about 7.8% at 11:40 a.m. EDT after having risen as much as 28% earlier in the day.

In an SEC filing, VirnetX disclosed that the U.S. District Court for the Eastern District of Texas denied a motion for relief from judgement brought by Apple. VirnetX had previously been awarded $439.8 million in a case against the tech giant that began nearly 10 years ago.

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Source Fool.com