ROMANIAN COURT UPHOLDS INJUNCTION AGAINST ZTE ROMANIA
September 02 2015 - 9:20AM
9th Time That Preliminary
Injunction Has Been Challenged and Upheld
NEW YORK -September 2, 2015-
Vringo, Inc. (NASDAQ: VRNG), a company engaged in the innovation,
development and monetization of intellectual property, today
announced that, on August 31, 2015, the Bucharest Tribunal denied
ZTE Romania's latest attempt to overturn Vringo's preliminary
injunction against ZTE Romania.
Since June 30, 2014, Vringo's
preliminary injunction has restrained ZTE Romania from
commercializing any 4G LTE mobile phone or infrastructure equipment
manufactured by ZTE Corporation which incorporates 4G LTE
technology.
On August 6, 2015, ZTE Romania
filed a new motion, asking the court to revoke the preliminary
injunction, and, as a subsequent request, to replace the
preliminary injunction with a bond to be paid by ZTE Romania. ZTE
Romania argued that (1) the preliminary injunction prevents ZTE
Romania from honoring its binding contractual obligations, thereby
triggering substantial damages, and (2) Vringo has not complied
with the requirements set forth by the European Court of Justice in
its Huawei v. ZTE decision, which was rendered
on July 16, 2015.
On August 31, 2015, the Bucharest
Tribunal rejected all of ZTE Romania's arguments and denied ZTE
Romania's request as ungrounded. This was ZTE Romania's ninth
attempt to overturn and/or suspend the enforcement of the
preliminary injunction since the preliminary injunction was granted
on June 30, 2014.
Following this latest rejection of
ZTE Romania's attempt to overturn the preliminary injunction, ZTE
Romania remains enjoined from commercializing any 4G LTE mobile
phone or infrastructure equipment manufactured by ZTE Corporation
which incorporates 4G LTE technology.
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@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#1949153
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