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.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

VHC Chart VHC data by YCharts

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.

More from Markets

3 Things Investors Must Know for Monday

3 Things Investors Must Know for Monday

Street Stats: The Mid-Term Elections May Be a Rollercoaster Ride for Investors

Street Stats: The Mid-Term Elections May Be a Rollercoaster Ride for Investors

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric