VirnetX Holding Plunges as Bloomberg Reports Jury Stalemate in Cisco Case

Shares of intellectual patent play VirnetX Holdings

plunged intra-day on Thursday after Bloomberg reported that a jury evaluating a patent case against Cisco

has been unable to reach a unanimous verdict. At last check, the stock was down around 13 percent and moving on extremely heavy volume. Nearly 4 million VHC shares have already traded hands on the day compared to a 3-month daily average of under 1 million. According to reports, the jury in the case is not hung and has been ordered to continue its deliberations. Investors, however, are approaching the news with trepidation and the stock has now broken through near-term support above $30 and could see more losses throughout the day.