VRINGO ISSUES STATEMENT REGARDING FORTHCOMING PATENT TRIAL AGAINST ZTE IN THE UNITED KINGDOM
(Thomson Reuters ONE) -
NEW YORK - September 24, 2014 - Vringo, Inc. (NASDAQ: VRNG) today released a
statement regarding its forthcoming patent infringement trials in the United
Kingdom, which were the topic of an inaccurate press release issued by defendant
ZTE earlier today.
"Vringo takes litigation and the licensing of our intellectual property assets
very seriously. We were surprised that any company or party to litigation
would publicly make inaccurate statements. We believe it is important to
clarify and set the record straight for our investors, the legal community and
our partners around the world," said David Cohen, Vringo's Chief Legal and
Intellectual Property Officer.
In the United Kingdom, Vringo alleged infringement of six patents: EP919, EP589,
EP029, EP933, EP119, and EP212. Trial on EP919 remains scheduled to commence
in October 2014. Trial on EP029 had been scheduled for trial at the same time
but, by agreement of the parties and subsequently ordered by the court, will be
deferred until a later date. Trials with regard to EP933, EP119, and EP212 are
scheduled to commence in 2015. Earlier this year the parties agreed to remove
both the infringement and validity claims, then at issue, regarding EP589.
"Streamlining issues for courts to consider is typical in litigation. Vringo is
looking forward to the trials against ZTE's UK subsidiary in October 2014 and in
2015, as well as hearings in Germany, France and India, which will occur in the
coming months," Mr. Cohen said.
"The strength of Vringo's intellectual property, and ZTE's infringement thereof,
is being validated in cases around the world," said Mr. Cohen. "The Chinese
Patent Office recently upheld the validity of the Chinese counterparts to EP589
and EP029 after ZTE challenged the validity of each patent. In Germany, the
Mannheim Regional Court has already found that ZTE infringes EP119, issued an
injunction, and rejected ZTE's invalidity arguments. The validity of EP119 was
also upheld by the European Patent Office in an invalidity challenge brought by
Qualcomm prior to Vringo's acquisition of the patent. Just this week, the
Brazilian Patent Office rejected ZTE's claims that the Brazilian counterpart to
EP919 is invalid. In addition, after evaluating the strength of Vringo's
claims, courts in Brazil, India and Romania have granted injunctions against
ZTE, ordered ZTE to post securities, and/or required ZTE to report imports of
certain products to Vringo. ZTE's statements that the strength of Vringo's
patents has not been evaluated and that Vringo's withdrawal of certain claims
demonstrates some sort of tacit admission of the weakness of Vringo's patents
are belied by the facts," Mr. Cohen continued.
ZTE's press release also exaggerates the "substantial" fees paid by Vringo. The
UK has a fee shifting system, in which the payment of costs for pre-trial
applications is a routine feature. The "substantial" fee that ZTE appears to
reference was less than £40,000.
Vringo has sought to engage ZTE in discussions for over two years following a
decade of attempts by the previous owner of the asserted patents. Vringo has
proposed to have the United Kingdom High Court, or independent arbitrators,
resolve the parties' disputes. When Vringo tried to engage ZTE in direct
discussions in December 2013 and provided settlement material under a non-
disclosure agreement (NDA), ZTE consciously chose to use Vringo's materials in
violation of the NDA. ZTE's breach of the NDA is currently the subject of
litigation in the U.S. District Court for the Southern District of New York,
which has granted a temporary restraining order against ZTE.
Notwithstanding ZTE's actions to date, Vringo remains willing to license its
standard essential patents to ZTE on a fair, reasonable and non-discriminatory
basis.
About Vringo, Inc.
Vringo, Inc. is engaged in the innovation, development and monetization of
intellectual property and mobile technologies. Vringo's intellectual property
portfolio consists of over 600 patents and patent applications covering telecom
infrastructure, internet search, and mobile technologies. The patents and
patent applications have been developed internally, and acquired from third
parties. For more information, visit: www.vringo.com.
Forward-Looking Statements
This press release includes forward-looking statements, which may be identified
by words such as "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative of such
terms, or other comparable terminology. Forward-looking statements are
statements that are not historical facts. Such forward-looking statements are
subject to risks and uncertainties, which could cause actual results to differ
materially from the forward-looking statements contained herein. Factors that
could cause actual results to differ materially include, but are not limited to:
our inability to license and monetize our patents, including the outcome of the
litigation against online search firms and other companies; our inability to
monetize and recoup our investment with respect to patent assets that we
acquire; our inability to develop and introduce new products and/or develop new
intellectual property; new legislation, regulations or court rulings related to
enforcing patents, that could harm our business and operating results;
unexpected trends in the mobile phone and telecom infrastructure industries; our
inability to raise additional capital to fund our combined operations and
business plan; our inability to maintain the listing of our securities on a
major securities exchange; the potential lack of market acceptance of our
products; potential competition from other providers and products; our inability
to retain key members of our management team; the future success of Infomedia
and our ability to receive value from its stock; and other risks and
uncertainties and other factors discussed from time to time in our filings with
the Securities and Exchange Commission ("SEC"), including our annual report on
Form 10-K filed with the SEC on March 10, 2014. Vringo expressly disclaims any
obligation to publicly update any forward-looking statements contained herein,
whether as a result of new information, future events or otherwise, except as
required by law.
Contacts:
Investors and Media:
Cliff Weinstein
Executive Vice President
Vringo, Inc.
646-532-6777
cweinstein(at)vringoinc.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Vringo, Inc. via GlobeNewswire
[HUG#1858139]
Unternehmensinformation / Kurzprofil:
Datum: 24.09.2014 - 19:30 Uhr
Sprache: Deutsch
News-ID 341743
Anzahl Zeichen: 7958
contact information:
Town:
New York
Kategorie:
Business News
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