Why VirnetX (VHC) Stock Is Plummeting Today

NEW YORK (TheStreet) -- Shares of VirnetX (VHC) was falling 48.4% to $7.70 Tuesday after an appeals court said a $368 million jury award for patent infringement against Apple (AAPL) will be cut.

The U.S. Court of Appeals for the Federal Court in Washington said the verdict for the case was "tainted" by erroneous instructions given to the jury, according to the Wall Street Journal. Some of the testimony from a VirnetX expert should have been excluded from the case, the court added.

VirnetX patent claims were related to Apple's FaceTime video chat feature and VPN on Demand features of iOS devices. The court ordered a new trial on whether FaceTime infringes VirnetX's patents.

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VHC Chart VHC data by YCharts

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