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SteveKimLaw
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I am an active husband, father, lawyer (more than 24 years, how time flies), and investor. I believe in contrarian investing, i.e., going where the crowd isn't. I believe that successful investing, like successful living, requires equal parts listening and evaluating, followed by independent... More
  • Vringo Vs. Google: Trial Update For 10/17/2012 17 comments
    Oct 17, 2012 4:38 PM | about stocks: VRNG

    Sorry I could not post this update earlier. It took a while to get ahold of reliable information, and to digest it.

    Well, yesterday was an eventful first day. The jury has been impaneled, and Opening Statements have been delivered. Vringo's first witness was scheduled to take the stand first thing in the morning, when Court resumed.

    We know that 9 jurors were selected (6 women, and 3 men). Contrary to my previous report, there are no "alternates." All the jurors will deliberate, and if any jurors fall off the jury (illness or other reason), the show will go on with fewer jurors. The verdict has to be unanimous, but if some jurors are lost (again for illness or other reason), the case can go on to verdict as long as there are at least 6 jurors left. That shouldn't be a problem in this case, as trial is scheduled for only two weeks.

    TODAY's trial update speaks briefly on the issue of jury selection, and summarizes the parties' opening statements. The comparison between the parties' Opening Statements was very interesting, as they previewed their cases for the jury. Note the differences in organization and communication styles.

    Link to TODAY's Trial Update (NOTE that this update for today, dated October 17, summarizes the events of yesterday, the first day of trial (October 16):

    Click HERE for Vringo vs. Google Trial Update (2012.10.17)

    Please be sure to REMOVE from the Cart any prior updates you have already purchased.

    Disclosure: I am long VRNG.

    Themes: GOOG Stocks: VRNG
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Comments (17)
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  • hbaskerville
    , contributor
    Comments (44) | Send Message
     
    Steve,
    Thanks for the update. Are you watching the trial? Do you plan to attend every day? Also, did you ever figure out of Google's expert Dr. Unger is the same guy that got torched by Judge Posner? Lastly, any thoughts on why VRNG lost 11% today other than the typical ebb and flow?
    Thanks again,
    Henry
    17 Oct 2012, 05:05 PM Reply Like
  • nevertrust
    , contributor
    Comments (2) | Send Message
     
    I'm guessing it's not the same Unger?
    18 Oct 2012, 01:03 AM Reply Like
  • SteveKimLaw
    , contributor
    Comments (461) | Send Message
     
    Author’s reply » Hi, Henry.
    Unfortunately, I am not at the trial. I have no idea about why Vringo bounced down today, but I do expect that the stock will have a lot of volatility throughout the trial.
    Thanks, Steve.
    17 Oct 2012, 05:12 PM Reply Like
  • IronmanVR4
    , contributor
    Comments (83) | Send Message
     
    Wonder why all VRNG articles have been deleted from SA?
    17 Oct 2012, 06:21 PM Reply Like
  • IronmanVR4
    , contributor
    Comments (83) | Send Message
     
    My bad their back on there now..
    17 Oct 2012, 06:36 PM Reply Like
  • Ken Marinai
    , contributor
    Comments (44) | Send Message
     
    Will the fact that the jury has to be unanimous hurt us. I thought civil trials were sometimes settled by a simple majority of jurors, but I really don't know much about it.
    17 Oct 2012, 07:23 PM Reply Like
  • rmhumes
    , contributor
    Comments (3) | Send Message
     
    I could see how a "hung" jury could be very detrimental to VRNG, but it seems the jury would be likely to decide on a consensus opinion since it is just money and not a criminal case where one juror won't be convinced to convict and send someone to jail if they don't absolutely believe in their guilt.
    18 Oct 2012, 12:30 AM Reply Like
  • rmhumes
    , contributor
    Comments (3) | Send Message
     
    Steve,
    Enjoyed your update today way more than VRNG's stock performance. I tried to read the opening statements with the eye of someone who hasn't read and researched the case. In this context, Google's assertion that Lycos (or anyone related to Ken Lang) never approached Google with an objection over the use of the patents gets your attention (yea, why not?). I understand legally that point is largely invalid, but I wonder if the judge will at some point clarify these types of points to the jury or if it will be up to VRNG to make that clear. Would seem more powerful coming from the judge.
    Maury
    18 Oct 2012, 12:30 AM Reply Like
  • ksizzle
    , contributor
    Comments (4) | Send Message
     
    Steve,
    There was some chatter about Google switching out an attorney last minute. Any insight on this? Thanks.
    18 Oct 2012, 12:31 AM Reply Like
  • ThomasLS
    , contributor
    Comments (7) | Send Message
     
    The federal rules require unanimity.
    18 Oct 2012, 12:33 AM Reply Like
  • ThomasLS
    , contributor
    Comments (7) | Send Message
     
    To further clarify, the Federal Rules apply in their entirety under a federal claim (i.e. patent infringement), meaning the claim is under federal question jurisdiction. The state law is irrelevant here (as opposed to being under diversity jurisdiction). However, the trial location is still typically the plaintiff's choice, and when it comes to a claim against a company as prevalent as google is in every state, Vringo essentially had its choice of where to bring suit.
    18 Oct 2012, 10:31 AM Reply Like
  • Cartier.WilliamJ
    , contributor
    Comment (1) | Send Message
     
    In civil cases, each state has their own jury size and verdict rules. Virginia requires a unanimous decision. As Steve stated if the jury pool gets smaller, it still requires a unanimous decision but just from those remaining jurors.
    18 Oct 2012, 12:47 AM Reply Like
  • mncheetah
    , contributor
    Comments (4) | Send Message
     
    Steve, what is your opinion regarding Fab's "content-based collaborative recommendation" publication in 1997 (1 year before Lang's Patents were filed) as it relates to Prior Art?

     

    It is referenced in Ungar's Invalidity report here:
    http://bit.ly/RD5L0o
    18 Oct 2012, 12:56 AM Reply Like
  • Asierocinski
    , contributor
    Comments (3) | Send Message
     
    Any idea why there are so few articles on this trial? Updates are hard to come by and I would have thought this would be considered a pretty high profile event? I haven't even heard anything on CNBC..
    18 Oct 2012, 01:01 AM Reply Like
  • nevertrust
    , contributor
    Comments (2) | Send Message
     
    I am guessing it is not the same Unger(s)?
    18 Oct 2012, 01:29 AM Reply Like
  • Payperpeddler
    , contributor
    Comments (2) | Send Message
     
    What would happen to the stock if Google buys them out?
    18 Oct 2012, 01:42 AM Reply Like
  • trungnnguyen
    , contributor
    Comments (4) | Send Message
     
    Vrng is about to drop another %10 today. What is going on!? There is some inside trading that we probably not aware of.
    18 Oct 2012, 09:27 AM Reply Like
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