VRINGO ANNOUNCES UPDATE ON LITIGATION AND PUBLISHED LICENSING TERMS
(Thomson Reuters ONE) -
NEW YORK - March 2, 2015 - Vringo, Inc. (NASDAQ: VRNG), a company engaged in the
innovation, development and monetization of intellectual property, today
announced several developments in its global litigation against ZTE as well as
its published term sheet.
In the United States, on February 27, 2015, Vringo filed an Amended Answer and
Counterclaims to ZTE's complaint against Vringo for breach of contract. Among
other claims made against ZTE, Vringo seeks a final determination on a global
FRAND license for ZTE to Vringo's standard-essential patents. ZTE's complaint,
which ZTE improperly brought in Delaware, has been transferred to the United
States District Court for the Southern District of New York, where it will be
heard along with Vringo's existing claim against ZTE for breach of a non-
disclosure agreement between the parties.
In the United Kingdom, on March 2, 2015, Vringo filed its Statement of Case in
Relation to the Relief Trial in its case against ZTE for infringement of the UK
part of European Patent 1,212,919. The Statement of Case sets out terms for a
FRAND license in the context of appropriate relief being determined for the
patent found infringed and valid (which finding has not been and cannot any
longer be appealed by ZTE), should ZTE request such a license. If ZTE does not
request a license or rejects the terms proposed by Vringo or rejects any
alternative terms that the Court orders, Vringo requests that ZTE be permanently
enjoined. Vringo's Statement of Case is available on Vringo's website,
www.vringo.com.
On March 2, 2015 Vringo made available on its website updated term sheets for
its wireless infrastructure and wireless subscriber unit standard-essential
patent portfolios.
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
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Datum: 02.03.2015 - 15:25 Uhr
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