NEW YORK - December 19, 2014 - Vringo, Inc.
(NASDAQ: VRNG), a company engaged in the innovation, development
and monetization of intellectual property, today provided an
update.
With respect to Vringo's ongoing disputes with ZTE
and ASUS:
-
In the United Kingdom, on November
4th, the
liability phase of the first trial relating to the Vringo patents
asserted against ZTE concluded. On November 28th, the
Court found that ZTE has infringed the UK part of Vringo's European
Patent 1,212,919 (the "'919 Patent"), which relates to 3G and 4G
infrastructure equipment. The Court also confirmed that the '919
Patent is valid as amended. The Court is expected to set a schedule
for addressing the remedies sought by Vringo against ZTE at a
hearing in January 2015.
-
In Germany, on November 21st, the Court
heard Vringo's motion alleging that were reasons to believe that
ZTE's accounting following an order by the Court, together with the
injunction granted against ZTE in December 2013, with respect to
Vringo's European Patent 1,186,119, were made without due
diligence. Today, the Court ordered the Chief Executive Officer of
ZTE's German subsidiary to confirm by oath that the accounting
provided by ZTE pursuant to the Court's order was correct. Under
German law, an incorrect declaration in place of an oath may result
in criminal penalty.
-
In Romania, on December 17th, the Court
held a hearing on ZTE's appeal of the injunction granted against
ZTE on July 1, 2014. Following the hearing, the Court ordered
further argument on January 7, 2015. The injunction,
prohibiting ZTE and its distributors from importing, exporting,
introducing on the market, offering for sale, storing, selling,
distributing, promoting, and/or conducting any other trading
activity with respect to any 4G/LTE mobile phone produced by ZTE
and any infrastructure equipment produced by ZTE which incorporates
4G/LTE technology, was temporarily suspended by the Court on
October 10th pending the appeal. Vringo's underlying infringement
case, in which Vringo is seeking damages and a permanent
injunction, is expected to be heard in the second half of
2015.
-
In Spain, on November 25th, the court
held an oral hearing in Vringo's case against ASUS with respect to
European Patent 0,748,136. The Court's judgment is expected in the
first quarter of 2015.
-
In Germany, on November 27th, the Court
held oral hearings in Vringo's cases against ZTE and ASUS with
respect to Vringo's European Patents 0,748,136 and 0,710,941. The
Courts' judgments are expected early in 2015.
-
In Brazil, the injunction granted by
the Court on April 15, 2014, against ZTE Corporation and ZTE do
Brasil, remains in force.
-
In the United States, in Vringo's case
against ZTE for breach of the parties' non-disclosure agreement,
Vringo's Motion for Preliminary Injunction and Motion for Judgment
on the Pleadings is fully briefed and pending resolution by the
Court. The court's temporary restraining order against ZTE
remains in effect. Trial is not yet scheduled.
-
In India, the Court continues to hear
argument pertaining to Vringo's motions to hold ZTE in contempt.
These motions stem from Vringo's assertion that ZTE failed to
comply with orders previously issued by the Court in both of
Vringo's infringement actions against ZTE. Vringo has also asked
the Court to order ZTE to deposit additional security. The Court's
rulings on Vringo's contempt motions remain pending.
Vringo expects the following
trials and hearings against ZTE to occur in 2015:
-
In Malaysia, the oral hearing in
Vringo's case against ZTE with respect to Vringo's Malaysian Patent
142,706 is scheduled to be held on March 9, 2014. The Court's
judgment is expected in the second quarter of 2015.
-
In France, the full day oral hearing in
Vringo's case against ZTE with respect to Vringo's European Patents
1,186,119 and 1,221,212 is scheduled to be held on April 13,
2015.
-
In Germany, ZTE's appeal with respect
to its infringement of Vringo's European Patent 1,186,119 is
scheduled to be held on July 22, 2015.
-
In Australia, the trial in Vringo's
case against ZTE with respect to Vringo's Australian Patents
2005/212,893 and 773,182 is expected to commence in the second half
of 2015.
With respect to the dispute
between Vringo's wholly-owned subsidiary, I/P Engine, Inc. and
Google, Vringo plans to seek review by the U.S. Supreme Court of
the U.S. Court of Appeals for the Federal Circuit's split opinion,
which issued on August 15, 2014, and reversed a judgment in favor
of I/P Engine against Google and certain of Google's customers in
the U.S. District Court for the Eastern District of Virginia. David
Boies, Chairman of Boies Schiller & Flexner LLP, will represent
I/P Engine in filing a petition for writ of certiorari at the U.S.
Supreme Court.
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
HUG#1882147
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