Court grants Vringo 6.5% royalty rate, shares halted

|By:, SA News Editor

The Eastern Virginia district court handling Vringo's (VRNG) IP suit against Google, AOL, IAC, and others has granted the company a royalty rate of 6.5% on infringing products.

The ruling comes 25 days after the court awarded Vringo supplemental damages and prejudgment interest, and six days after a Google workaround was rejected.

Shares had jumped 13.4% AH before they were halted.