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Why Illumina Shares Are Plunging Today?

A jury in the U.S. District Court for the District of Delaware rendered a verdict that Illumina Inc (NASDAQ: ILMN) willfully infringed the U.S. Patent Nos. 9,222,132 and 10,662,473 owned by Complete Genomics Inc. The jury awarded approximately $334 million to CGI in past damages. The jury also invalidated three patents owned by Illumina, namely, U.S. Patent Nos. 9,217,178; 9,303,290; and 9,970,055. Illumina said it disagrees with the jury’s verdict and intends to defend the action, including fil

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