VRINGO ANNOUNCES UPDATE ON ZTE LITIGATION
(Thomson Reuters ONE) -
Delaware Court Dissolves Temporary Restraining Order and Preliminary Injunction
Against Vringo's Enforcement of Patent Rights
NEW YORK - February 11, 2015 - Vringo, Inc. (NASDAQ: VRNG), a company engaged in
the innovation, development and monetization of intellectual property, today
announced the United States District Court for the District of Delaware has
dissolved the temporary restraining order and preliminary injunction entered
last Friday in favor of ZTE and against Vringo.
On February 5, 2015, ZTE filed a lawsuit against Vringo in the United States
District Court for the District of Delaware, accusing Vringo of violating
contractual obligations made to ETSI, a telecommunications standards-setting
organization, to license standard essential patents on fair, reasonable, and
non-discriminatory ("FRAND") terms. In its complaint, ZTE asserted that Vringo
improperly sought injunctive relief against ZTE around the world and,
specifically, in Romania where Vringo received an injunction against ZTE's 4G
LTE handsets and equipment.
On February 6, 2015, the United States District Court for the District of
Delaware granted a Temporary Restraining Order and a Preliminary Injunction
against Vringo, restraining Vringo from taking any action to exclude ZTE
products in Romania and from contacting any of ZTE's customers, vendors, and
suppliers to inform them of the injunction against ZTE's products.
On Tuesday, February 10, 2015, the U.S. District Court for the District of
Delaware granted Vringo's motion to dissolve the injunctive relief that the
Court ordered on Friday, February 6, 2015. The Court granted Vringo's motion
one day after Vringo presented the Court with the full picture of the facts.
The Court also ordered that ZTE's underlying lawsuit against Vringo be
transferred to the U.S. District Court for the Southern District of New York
where Vringo brought a lawsuit against ZTE for breach of the parties non-
disclosure agreement and received a temporary restraining order against ZTE.
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#1893609]
Unternehmensinformation / Kurzprofil:
Datum: 11.02.2015 - 14:30 Uhr
Sprache: Deutsch
News-ID 370901
Anzahl Zeichen: 5960
contact information:
Town:
New York
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 235 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"VRINGO ANNOUNCES UPDATE ON ZTE LITIGATION"
steht unter der journalistisch-redaktionellen Verantwortung von
Vringo, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
