VRINGO PROVIDES UPDATE
(Thomson Reuters ONE) -
NEW YORK - December 19, 2014 - Vringo, Inc. (NASDAQ: VRNG), a company engaged in
the innovation, development and monetization of intellectual property, today
provided an update.
With respect to Vringo's ongoing disputes with ZTE and ASUS:
* In the United Kingdom, on November 4(th), the liability phase of the first
trial relating to the Vringo patents asserted against ZTE concluded. On
November 28(th), the Court found that ZTE has infringed the UK part of
Vringo's European Patent 1,212,919 (the "'919 Patent"), which relates to 3G
and 4G infrastructure equipment. The Court also confirmed that the '919
Patent is valid as amended. The Court is expected to set a schedule for
addressing the remedies sought by Vringo against ZTE at a hearing in January
2015.
* In Germany, on November 21st, the Court heard Vringo's motion alleging that
were reasons to believe that ZTE's accounting following an order by the
Court, together with the injunction granted against ZTE in December 2013,
with respect to Vringo's European Patent 1,186,119, were made without due
diligence. Today, the Court ordered the Chief Executive Officer of ZTE's
German subsidiary to confirm by oath that the accounting provided by ZTE
pursuant to the Court's order was correct. Under German law, an incorrect
declaration in place of an oath may result in criminal penalty.
* In Romania, on December 17th, the Court held a hearing on ZTE's appeal of
the injunction granted against ZTE on July 1, 2014. Following the hearing,
the Court ordered further argument on January 7, 2015. The injunction,
prohibiting ZTE and its distributors from importing, exporting, introducing
on the market, offering for sale, storing, selling, distributing, promoting,
and/or conducting any other trading activity with respect to any 4G/LTE
mobile phone produced by ZTE and any infrastructure equipment produced by
ZTE which incorporates 4G/LTE technology, was temporarily suspended by the
Court on October 10th pending the appeal. Vringo's underlying infringement
case, in which Vringo is seeking damages and a permanent injunction, is
expected to be heard in the second half of 2015.
* In Spain, on November 25(th), the court held an oral hearing in Vringo's
case against ASUS with respect to European Patent 0,748,136. The Court's
judgment is expected in the first quarter of 2015.
* In Germany, on November 27(th), the Court held oral hearings in Vringo's
cases against ZTE and ASUS with respect to Vringo's European Patents
0,748,136 and 0,710,941. The Courts' judgments are expected early in 2015.
* In Brazil, the injunction granted by the Court on April 15, 2014, against
ZTE Corporation and ZTE do Brasil, remains in force.
* In the United States, in Vringo's case against ZTE for breach of the
parties' non-disclosure agreement, Vringo's Motion for Preliminary
Injunction and Motion for Judgment on the Pleadings is fully briefed and
pending resolution by the Court. The court's temporary restraining order
against ZTE remains in effect. Trial is not yet scheduled.
* In India, the Court continues to hear argument pertaining to Vringo's
motions to hold ZTE in contempt. These motions stem from Vringo's assertion
that ZTE failed to comply with orders previously issued by the Court in both
of Vringo's infringement actions against ZTE. Vringo has also asked the
Court to order ZTE to deposit additional security. The Court's rulings on
Vringo's contempt motions remain pending.
Vringo expects the following trials and hearings against ZTE to occur in 2015:
* In Malaysia, the oral hearing in Vringo's case against ZTE with respect to
Vringo's Malaysian Patent 142,706 is scheduled to be held on March 9, 2014.
The Court's judgment is expected in the second quarter of 2015.
* In France, the full day oral hearing in Vringo's case against ZTE with
respect to Vringo's European Patents 1,186,119 and 1,221,212 is scheduled to
be held on April 13, 2015.
* In Germany, ZTE's appeal with respect to its infringement of Vringo's
European Patent 1,186,119 is scheduled to be held on July 22, 2015.
* In Australia, the trial in Vringo's case against ZTE with respect to
Vringo's Australian Patents 2005/212,893 and 773,182 is expected to commence
in the second half of 2015.
With respect to the dispute between Vringo's wholly-owned subsidiary, I/P
Engine, Inc. and Google, Vringo plans to seek review by the U.S. Supreme Court
of the U.S. Court of Appeals for the Federal Circuit's split opinion, which
issued on August 15, 2014, and reversed a judgment in favor of I/P Engine
against Google and certain of Google's customers in the U.S. District Court for
the Eastern District of Virginia. David Boies, Chairman of Boies Schiller &
Flexner LLP, will represent I/P Engine in filing a petition for writ of
certiorari at the U.S. Supreme Court.
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#1882147]
Unternehmensinformation / Kurzprofil:
Datum: 19.12.2014 - 15:15 Uhr
Sprache: Deutsch
News-ID 360840
Anzahl Zeichen: 9237
contact information:
Town:
New York
Kategorie:
Business News
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