VirnetX Holding Corp (VHC)

[nealhugh]

pomerantzlawfirm.com/active...
Tech Biz VirnetX's Brass Accused Of Bilking Millions
Law360 (June 9, 2020) -- VirnetX Holding Corp. has been hit with an investor's derivative lawsuit in Delaware Chancery Court claiming its CEO and directors have "bilked millions of dollars out of the company"...

...waste, unjust enrichment and breaching their fiduciary duty to the company. ...hold VirnetX's officers "accountable for years of self-dealing and knowing misstatements."

"In truth, VirnetX is a notorious patent troll, deriving substantially all of its revenue from extortionate 'licensing deals' and patent litigation."

Hurwitz alleges the company is "plagued by nepotism, waste, and corporate governance failures."

Larsen has engaged in an "unusual pattern of stock sales" and "appears to be attempting to monetize his holdings in VirnetX while the company's stock price is still artificially inflated."