BRUCE T. BERNSTEIN JOINS VRINGO BOARD OF DIRECTORS
February 08 2016 - 08:45AM
New Board Member
Adds Experience in Finance and Deal Structure to Board of
Directors
NEW YORK - February 8, 2016 -
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 power and
rugged computing devices, today announced that Bruce T. Bernstein
will be joining the company's board of directors and Ashley C.
Keller will simultaneously resign.
"Ashley's investment, legal and
patent litigation expertise has been invaluable to Vringo over the
last three years. We are thankful for the time he spent working
with us on our business and legal strategies and wish him the very
best in his upcoming endeavors," said Andrew D. Perlman, Vringo's
Chief Executive Officer.
"It has been a pleasure to serve
on the Vringo board of directors. I enjoyed working alongside the
management team and I look forward to seeing them continue to build
the company in the future," said Mr. Keller.
Mr. Perlman also said, "we are
looking forward to Bruce joining our board of directors. I am
confident that his unique background in finance and deal structure
will be of great value to Vringo."
"I am excited by the opportunity
to join the Vringo board of directors. As an investor in the
company for many years, I have had the privilege of watching Vringo
grow and evolve. I am excited to work with the team as they
position themselves for growth in 2016 and beyond," said Mr.
Bernstein.
Bruce T. Bernstein has over thirty
years of experience in the securities industry, primarily as a
senior portfolio manager for two alternative finance funds as well
as a deep understanding of the trading and structuring of arbitrage
strategies. Since 2006, Mr. Bernstein has served as President of
Rockmore Capital, LLC, a direct investment and lending fund.
Previously, Bruce served as
Co-President of Omicron Capital, LP, an investment firm based in
New York. Prior to joining Omicron Capital, Mr. Bernstein was with
Fortis Investments Inc. where he served as a Senior Vice President
in the bank's Global Securities Arbitrage business unit and then
President in charge of the bank's proprietary investment business
in the United States. Mr. Bernstein also serves as a member of the
board of directors of XpresSpa Holdings, the leading airport spa
company in the world. Mr. Bernstein is also a member of the board
of Summit Digital Health, a laser based blood glucose monitor
distributor. Mr. Bernstein holds a B.B.A. from City University of
New York (Baruch).
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
power 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 Fli Charge is dedicated to the licensing and
commercialization of wire-free power 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:
212.309.7549
info@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#1984425
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