ROMANIAN COURT ANNOUNCES FAVORABLE RULING FOR VRINGO; PRELIMINARY INJUNCTION AGAINST ZTE ROMANIA REMAINS IN PLACE
(Thomson Reuters ONE) -
ZTE Romania's Latest Challenge To Overturn Romanian Preliminary Injunction Fails
NEW YORK - May 8, 2015 - Vringo, Inc. (NASDAQ: VRNG), a company engaged in the
innovation, development and monetization of intellectual property, today
announced that, yesterday, the Bucharest Tribunal in Romania denied ZTE
Romania's motion for a preliminary injunction against Vringo Infrastructure,
Inc.
ZTE Romania S.R.L. ("ZTE Romania") had sought a preliminary injunction against
Vringo, which would have allowed ZTE Romania to temporarily resume the
commercialization of 4G LTE equipment in Romania, thereby effectively side-
stepping the preliminary injunction granted against ZTE Romania. Following
yesterday's ruling, the preliminary injunction against ZTE Romania remains in
place. ZTE Romania retains the right to appeal yesterday's decision.
"This decision marks the most recent in a series of failed attempts by ZTE
Romania to overturn or circumvent the preliminary injunction against ZTE
Romania," said David Cohen, Vringo Chief Legal and IP Officer. "Vringo has
numerous issues with ZTE Romania's license proposal. Put simply, it is not
FRAND. Many of the licensing terms are over-reaching and well outside industry
norms," Mr. Cohen continued.
Vringo has twice offered term sheets for a global license to its standard-
essential patent ("SEP") portfolio to ZTE Corporation, the parent company of ZTE
Romania. Vringo has also offered to have a UK court, a United States court (in a
case in which ZTE sued Vringo), as well as a neutral arbitration panel determine
the terms of such a global license. Each time, ZTE has refused (and/or attempted
to stall) any third party determination of a license on fair, reasonable, and
non-discriminatory ("FRAND") terms. ZTE's refusal is inconsistent with the model
established in the European Commission's Samsung case. Vringo has also provided
a complete global license agreement to ZTE for its review. ZTE, to date, has
refused to discuss this agreement.
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; our inability to protect our intellectual property
rights; 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; our ability to continue as a going concern; our
liquidity 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 16, 2015.
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#1920043]
Unternehmensinformation / Kurzprofil:
Datum: 08.05.2015 - 14:30 Uhr
Sprache: Deutsch
News-ID 391939
Anzahl Zeichen: 6015
contact information:
Town:
New York
Kategorie:
Business News
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