U.S. Markets open in 4 hrs 14 mins

Apple's legal battle over its patents could yield another big winner: Leidos

Carten Cordell
Apple's legal battle over its patents could yield another big winner: Leidos

For almost a decade, Apple Inc. has waged a pugilistic legal battle with Nevada internet security software company VirnetX Holding Corp. over claims of patent infringement involving technology the California company uses in its iPhone and iPad devices. In its most recent annual report, Leidos (NYSE: LDOS) noted that it is entitled to up 25 percent of any proceeds that VirnetX (AMEX: VHC) obtains from two ongoing patent infringement cases with Apple, after subtracting attorneys fees and costs.  That’s because among the more than 112 U.S. and international patents VirnetX claims on its website, four were acquired from Leidos in 2006, prior to the latter's spinoff from Science Applications International Corp. (NYSE: SAIC).