VRINGO ANNOUNCES LEADERSHIP TRANSITION
December 19 2014 - 8:30AM
NEW YORK - December 19, 2014 -
Vringo, Inc. (NASDAQ: VRNG), today announces that the company has
entered into a new employment agreement with Anastasia Nyrkovskaya,
who will continue to serve as Chief Financial Officer, and a
consulting agreement with Alexander R. Berger, who will transition
from the role of Chief Operating Officer and director to a
consultant to the company. Mr. Berger will remain a member of
boards of directors of certain Vringo subsidiaries.
"The Vringo board of directors
joins me in thanking Alex for his tireless efforts since the
founding of Innovate/Protect, through its merger with Vringo and
the continued growth of the company. Alex enjoys growing
companies and has done a tremendous job building Vringo's
infrastructure. We appreciate him commuting from his home in
Boston to our New York offices for the last eighteen months, and
look forward to continuing to work with him," said Andrew D.
Perlman, Chief Executive Officer.
"I look forward to remaining
engaged with the Vringo management team and board as the company
executes on its business plan. I have transitioned my
executive responsibilities to a talented management team, and have
confidence in their abilities to continue to manage the company,"
said Mr. Berger.
"Anastasia continues to be a key
member of our executive management team, and I look forward to her
expanding her role at Vringo," Mr. Perlman continued.
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@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
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