VirnetX (NYSEMKT: VHC) stocks plummeted a shocking 59.8% on Tuesday, September 16, after receiving a stern blow from the U.S. Federal Circuit Court of Appeals in Washington when a judge vacated a jury award of $368.2 million in damages.
VirnetX’s (VHC) sued Apple, Inc. the titans of the technology industry, for patent infringement back in 2012, which actually yielded a positive result for VirnetX’s (VHC). The jury awarded VirnetX’s (VHC) $368.2 million in damages, finding that Apple had in fact infringed on VirnetX’s (VHC) patent of the 4G LTE phone.
However, fate took a turn for the worse VirnetX’s (VHC) investors when Apple appealed the November 2012 ruling and won. As a result, VirnetX’s (VHC) stocks sank nearly 60% on September 16, 2014, the day the appellate decision was reached, causing many investors to experience unanticipated margin calls and broker fees.
Many of these investors may have lost money as a result of unsuitable investments in VirnetX’s (VHC), or a failure to diversify their portfolio on the part of the broker. Additionally, the potential churning of accounts mixed with a broker-dealer firm’s failure to supervise may lead to brokers receiving unearned commission or fees from their investors.
The nationally acclaimed securities and investment fraud firm, Fitapelli Kurta is investigating brokers who have recommended VirnetX’s (VHC), and is interested in hearing from investors who have lost money investing in VirnetX’s (VHC). Located in the heart of New York City, Fitapelli Kurta has extensive experience handling cases on behalf of investors. Our firm prosecute cases nationwide on a contingency fee basis and have recovered millions of dollars per year on behalf of investors nationwide.
Call now to speak directly to an attorney. We will discuss the merits of your case at absolutely no cost to you. Claims brought on behalf of investors to recover losses must go through arbitration with the Financial Industry Regulatory Authority (FINRA).Time is of the essence in filing claims with FINRA, so do not delay. Contact us now