BUZZ-Australia's Identitii hits record low after legal blow for US proceedings

Jpmorgan Chase

Jpmorgan Chase

JPM

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** Shares of Identitii ID8.AX fall as much as 40% to a record low of A$0.003

** Stock logs biggest intraday pct drop since mid May 2020

** Regulatory tech firm says the U.S. District Court of Delaware district issued JPMorgan Chase JPM.N the motion to dismiss co's proceedings

** Proceedings regarding U.S. patent infringement claim against JPMorgan Chase

** Adds co intends to appeal court decision

** More than 4.6 million shares change hands, 7.5 times the 30-day average

** Stock down 16.7% YTD, including the day's moves