By Nathalie Tadena
Vringo Inc. (VRNG) confirmed a federal court ruled the company
can't be awarded damages for the time prior to when its subsidiary
filed a patent suit against Google Inc. (GOOG) and others.
The video-ringtone and intellectual-property company said a U.S.
District Court in Virginia ruled that damages in the suit should be
calculated beginning Sept. 15, 2011, the date that Vringo's I/P
Engine subsidiary filed its complaint, even if a jury ultimately
decides in the company's favor. I/P Engine had previously sought to
have the damages calculated from Sept. 15,2005.
Vringo expects closing arguments in the case to commence
Thursday.
The company is suing Google, AOL Inc. (AOL),
IAC/InterActiveCorp. (IACI) and others, alleging infringement of
two of its patents related to advertising placement in search
results.
The company's shares hit several circuit breakers during
regular-session trading. The stock, which slid 36% to $2.56 before
it was halted earlier Wednesday afternoon, has fallen 23% over the
past three months.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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