Patent trolling seems to be the new get rich quick scheme for this decade. Every week we see news of a new lawsuit being filed, or hear word of a case being won or lost down in Tyler, Texas. This week we lead off with news of Cisco winning its battle against the notorious patent troll VirnetX.
VirnetX is a simple 14 man operation that seemingly has one goal: Hunt down possible patent infringements and sue the pants off of the other party. Earlier last year, the company filed suit against Cisco, saying that the networking giant was infringing on some of its VPN patents.
Most of the time VirnetX wins its cases, but today Cisco has dealt a crushing blow to the company when a judge ruled that Cisco was in the clear. Losing the case cost VirnetX a cool $27 million as well as seeing its stock plummet a whopping 40 percent just minutes after the verdict.