$VRNG news from friday!
VRINGO ANNOUNCES ZTE REQUEST FOR RELEASE OF DETAINED PRODUCTS DENIED BY PRESIDENT OF DISTRICT COURT OF THE HAGUE, NETHERLANDS
NEW YORK - October 24, 2014 - Vringo, Inc. (NASDAQ: VRNG) today announced that the President of the District Court of The Hague in the Netherlands issued its decision in a request filed by ZTE Corporation, ZTE Deutschland GmbH, and ZTE Netherlands B.V. (collectively, "ZTE"
to release the ZTE UMTS-products that are being held by Dutch customs officials and to order Vringo to ask the Dutch customs authorities to stop their actions against ZTE's products based on the Anti Piracy Regulation of the European Union.
In a ruling, issued today, the President denied ZTE's requests, and upheld the detention of ZTE's goods as previously ordered by Dutch customs authorities. The Court found that Vringo's European Patent 1,186,119 ("the '119 Patent", which a German court previously held to be infringed by ZTE Corporation and ZTE Deutschland GmbH, is prima facie valid and infringed by ZTE. The Court also rejected ZTE's argument that Vringo has violated European competition law by enforcing the '119 Patent. In addition, the Court ordered ZTE to pay Vringo's legal costs of €200,000. ZTE may choose to appeal the Court's decision.
The '119 Patent has been previously found infringed by ZTE Corporation and ZTE Deutschland by a German court (currently under appeal) and found valid in opposition proceedings before the European Patent Office. The German court has also rejected ZTE's allegation that Vringo violated competition law by enforcing the '119 Patent.
ZTE filed this action on July 24, 2014 in the District Court of The Hague against Vringo Infrastructure, Inc., Vringo's wholly-owned subsidiary, following the detention of ZTE's UMTS products by Dutch customs authorities on the basis of the Anti Piracy Regulation and following the institution of a patent infringement lawsuit against ZTE on May 28, 2014 at the District Court of The Hague, in which the destruction of the detained goods was requested. On August 19, 2014, Vringo Infrastructure filed another suit at the District Court of The Hague, which subsumed the May 28, 2014 lawsuit. The August suit accuses ZTE of infringing the '119 Patent in The Netherlands and other countries in which the '119 Patent is in force, and seeks injunctive relief for these countries. A schedule in this matter has not yet been set.
In addition to the Netherlands and Germany, Vringo has also accused ZTE of infringing the '119 Patent in France, where an oral hearing is scheduled to be held on December 8, 2014, and the United Kingdom, where the court has not yet scheduled a trial date on this patent. In Germany, the court is scheduled to hear Vringo's motion alleging that ZTE Corporation and ZTE Deutschland failed to comply with the accounting ordered by the court in its decision establishing its infringement of the '119 Patent, on November 21, 2014.
An English translation of the non-confidential version of today's decision will be posted to Vringo's website early next week.
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#1865700
Source: Thomson Reuters ONE (October 24, 2014 - 10:48 AM EDT)
News by QuoteMedia
VRINGO ANNOUNCES ZTE REQUEST FOR RELEASE OF DETAINED PRODUCTS DENIED BY PRESIDENT OF DISTRICT COURT OF THE HAGUE, NETHERLANDS
NEW YORK - October 24, 2014 - Vringo, Inc. (NASDAQ: VRNG) today announced that the President of the District Court of The Hague in the Netherlands issued its decision in a request filed by ZTE Corporation, ZTE Deutschland GmbH, and ZTE Netherlands B.V. (collectively, "ZTE"
to release the ZTE UMTS-products that are being held by Dutch customs officials and to order Vringo to ask the Dutch customs authorities to stop their actions against ZTE's products based on the Anti Piracy Regulation of the European Union. In a ruling, issued today, the President denied ZTE's requests, and upheld the detention of ZTE's goods as previously ordered by Dutch customs authorities. The Court found that Vringo's European Patent 1,186,119 ("the '119 Patent"
, which a German court previously held to be infringed by ZTE Corporation and ZTE Deutschland GmbH, is prima facie valid and infringed by ZTE. The Court also rejected ZTE's argument that Vringo has violated European competition law by enforcing the '119 Patent. In addition, the Court ordered ZTE to pay Vringo's legal costs of €200,000. ZTE may choose to appeal the Court's decision. The '119 Patent has been previously found infringed by ZTE Corporation and ZTE Deutschland by a German court (currently under appeal) and found valid in opposition proceedings before the European Patent Office. The German court has also rejected ZTE's allegation that Vringo violated competition law by enforcing the '119 Patent.
ZTE filed this action on July 24, 2014 in the District Court of The Hague against Vringo Infrastructure, Inc., Vringo's wholly-owned subsidiary, following the detention of ZTE's UMTS products by Dutch customs authorities on the basis of the Anti Piracy Regulation and following the institution of a patent infringement lawsuit against ZTE on May 28, 2014 at the District Court of The Hague, in which the destruction of the detained goods was requested. On August 19, 2014, Vringo Infrastructure filed another suit at the District Court of The Hague, which subsumed the May 28, 2014 lawsuit. The August suit accuses ZTE of infringing the '119 Patent in The Netherlands and other countries in which the '119 Patent is in force, and seeks injunctive relief for these countries. A schedule in this matter has not yet been set.
In addition to the Netherlands and Germany, Vringo has also accused ZTE of infringing the '119 Patent in France, where an oral hearing is scheduled to be held on December 8, 2014, and the United Kingdom, where the court has not yet scheduled a trial date on this patent. In Germany, the court is scheduled to hear Vringo's motion alleging that ZTE Corporation and ZTE Deutschland failed to comply with the accounting ordered by the court in its decision establishing its infringement of the '119 Patent, on November 21, 2014.
An English translation of the non-confidential version of today's decision will be posted to Vringo's website early next week.
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#1865700
Source: Thomson Reuters ONE (October 24, 2014 - 10:48 AM EDT)
News by QuoteMedia
I'm in it to win it!
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
