BRAZIL'S HIGHEST COURT FOR NON-CONSTITUTION MATTERS UPHOLDS PRELIMINARY INJUNCTION AGAINST ZTE
November 18 2015 - 8:45AM
Twelfth Instance
In Which A Brazilian Court Has Upheld Preliminary Injunction
Against ZTE
NEW YORK -November 18, 2015-
Vringo, Inc. (NASDAQ: VRNG), a company engaged in the innovation,
development and monetization of intellectual property as well as
the commercialization and distribution of wire-free charging and
rugged computing devices, today announced that for the twelfth
time, a Brazilian Court has denied ZTE's request to overturn the
preliminary injunction which was granted on April 15, 2014.
On April 15, 2014, the
5th Business Trial Court of the State of Rio de Janeiro
granted Vringo's request for an ex-parte preliminary injunction
against ZTE, ordering ZTE to cease commercializing 3G and 4G
infrastructure technology in Brazil.
Since that date, ZTE has
attempted, unsuccessfully, to have the preliminary injunction
overturned twelve times. ZTE has done so by petitioning five
separate courts, utilizing a wide variety of procedural mechanisms,
and re-litigating the same issues.
In this instance, ZTE, for the
first time, had petitioned the Superior Court of Justice, Brazil's
highest court for non-constitutional matters, to overturn an
earlier ruling by the Rio de Janeiro State Court of Appeals, which
rejected a previous ZTE attempt to overturn the preliminary
injunction.
In its ruling, the Superior Court
of Justice affirmed the decision of the Rio de Janeiro State Court
of Appeals, which held that to delay relief to Vringo would present
"effective irreparable harm" to Vringo's legal rights, and that
ZTE, in seeking to overturn the preliminary injunction, had not
adequately presented an argument that it does not infringe Vringo's
patent-in-suit.
Following this latest rejection of
ZTE's attempt to overturn the preliminary injunction, ZTE remains
enjoined from commercializing 3G and 4G infrastructure technology
in Brazil and Vringo remains able to enforce the preliminary
injunction.
In addition, according to a report
prepared by court-appointed experts following a December 1, 2014
raid of ZTE's warehouse in Hortolândia, São Paulo, Brazil, ZTE has
sold at least 360 components in violation of the preliminary
injunction and failed to produce several accounting and tax
documents that ZTE had been specifically ordered to produce during
the raid.
About Vringo,
Inc.
Vringo, Inc. is engaged in the
innovation, development and monetization of intellectual property
as well as the commercialization and distribution of wire-free
charging and rugged computing devices. Vringo's intellectual
property portfolio consists of over 600 patents and patent
applications covering telecom infrastructure, internet search,
ad-insertion, mobile and wire-free charging technologies.
Vringo's subsidiary fliCharge is dedicated to the licensing and
commercialization of wire-free charging technologies. Vringo's
subsidiary Group Mobile is dedicated to the marketing and sale of
rugged computing devices. 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 ZTE and other
companies; our inability to recognize the anticipated benefits of
the acquisition of IDG, which may be affected by, among other
things, competition, our ability to secure advantageous licensing
and sales agreements, market acceptance of IDG's technology,
potential technology obsolescence, protection of intellectual
property rights and potential liability risks that are inherent in
the marketing and sale of products used by consumers; 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@vringoinc.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Vringo, Inc. via Globenewswire
HUG#1967740
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