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Vringo (VRNG +22.7%) is up sharply as the jury deliberating over the Google trial reportedly...
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Monday, November 5, 2012, 12:24 PM ETVringo (VRNG +22.7%) is up sharply as the jury deliberating over the Google trial reportedly asks for instructions on damages. 77.1% of Vringo's float was shorted as of Oct. 15, though that number may have changed significantly since then in light of how volatile Vringo shares have been.
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This news story has 5 comments:
. .WHAT GREAT NEWS!!!!!!!!!!!!!!!!!
The only reason that the jury would be requesting instructions concerning damages is if they have already agreed that Google is guilty of infringing on Vringo's patents. This in itself is highly beneficial for Vringo because it gives this tiny company immense stature because they defeated the behemoth Google.
The number that the jury comes up with will be quite interesting. And the judge has the prerogative to add on to the number as it concerns future royalties, etc. It also opens the door to settlements/lawsuits with other companies that also infringed the patents.
There is little doubt that Google will appeal the jury verdict and that Vringo will appeal Judge Jackson's laches ruling.
As Yogi Berra once said "it ain't over 'til it's over."
But this is a wonderful beginning.
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