VirnetX Declares Special Cash Dividend of $1.00 Per Share
Commits to Further Shareholder Distributions of Significant Portion of Any Net Proceeds from
Enters into Cooperation Agreement with
In conjunction with the special cash dividend,
As part of the agreement,
Messrs. Radoff and Torok commented: "We are pleased to have reached this constructive agreement with
The agreement with the
Special Note Regarding Forward-Looking Statements
This press release should be read in conjunction with our Annual Report on Form 10-K (the "Form 10-K"), which is expected to be filed with the
These forward-looking statements are based upon our current expectations, estimates, assumptions, and beliefs concerning future events and conditions and may discuss, among other things, expectations about products and product performance, expectations about future cash distributions or dividends and the impact of potential and ongoing litigation. Any statement that is not historical in nature is a forward- looking statement and may be identified by the use of words and phrases such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "will be," "will continue," "will likely result in," and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are necessarily subject to risks, uncertainties, and other factors, many of which are outside our control, and could cause actual results to differ materially from such statements and from our historical results and experience. These risks, uncertainties and other factors include, but are not limited to risks detailed in our filings with the
- Litigation with Apple. Those statements may imply that
VirnetXmay soon receive a substantial amount of cash; however we do not control the court's timetable for a ruling, and we do not know whether that ruling will be favorable, or if it is favorable, whether there may be substantial time between the ruling and the actual receipt of cash, which might be reduced from the amount we currently expect, or eliminated entirely.
- Prospects regarding distributions to shareholders. These statements may imply that
VirnetXmay soon make distributions to shareholders. However, if the litigation with Apple does not conclude in VirnetX'sfavor, then VirnetXwill be unable to do so.
EXCEPT AS REQUIRED BY LAW, WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD- LOOKING STATEMENT AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.