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Vringo (VRNG -6.4%) has been volatile in trading today, as investors wait to hear the results of...

Vringo (VRNG -6.4%) has been volatile in trading today, as investors wait to hear the results of both a Vringo motion for sanctions against Google, and court-ordered settlement talks between the companies. Shares were down as much as 15% before briefly turning positive, and then selling off again.
Comments (7)
  • pumarega
    , contributor
    Comments (7) | Send Message
     
    Today's chart is about as crazy as it gets. +10% intraday swings sure are fun.

     

    I'm long from $3.03 but bought the Oct $4 puts yesterday when the stock was trading at around $5.50. Now it's just popcorn and waiting. :)
    9 Oct 2012, 03:12 PM Reply Like
  • surfnspy
    , contributor
    Comments (415) | Send Message
     
    At least it makes work more enjoyable. Mayhem I tell you. The Yahoo! boards are absolute bedlam right now.
    9 Oct 2012, 03:50 PM Reply Like
  • strougo
    , contributor
    Comments (95) | Send Message
     
    some insider selling in trading friday while so much optimism of a win
    9 Oct 2012, 04:12 PM Reply Like
  • caddy311
    , contributor
    Comments (154) | Send Message
     
    strougo - do you have a link to that?? thanks
    9 Oct 2012, 04:26 PM Reply Like
  • User550230
    , contributor
    Comments (53) | Send Message
     
    doesnt it just trade down to the secondary offering price on the day it settles.....which is today?
    9 Oct 2012, 04:40 PM Reply Like
  • surfnspy
    , contributor
    Comments (415) | Send Message
     
    What does this filing mean??? It was filed today but, relates to AOL??? Any legal eagle want to enlighten me?

     

    http://bit.ly/Pm7YkM
    9 Oct 2012, 04:49 PM Reply Like
  • Rdwyer3577
    , contributor
    Comments (10) | Send Message
     
    The main docket entry for today is below. The statement by the court, "The Court Makes Rulings on the Record" is very interesting. To me it makes it clear the Magistrate Judge does not want his rulings to effect the stock when a settlement may be imminent. Both sides made their arguments requiring the sanctions issue and then headed back to the main courtroom to work out a deal. I'm quite sure they have been talking about a settlement since the Judge ruled on the Motion last week and ordered settlement talks. The sides don't wait until they get before the Judge to talk about settlements, they have been doing so for days. This is evident in the second docket entry I have copied and pasted below. It shows the parties have been talking and came up with a joint motion between Plaintiff, I/P Engine and Defendant, AOL which reads, A Joint Motion to Dismiss with Prejudice of I/P Engine's Claims Relating to AOL's Advertising.com Sponsored Listings by AOL, I/P Engine, Inc. I/P Engine would not move to dismiss anything jointly with any of the defendants if they didn't think a settlement was imminent. It's coming folks!!!

     

    10/09/2012 691 Minute Entry for proceedings held before Magistrate Judge Lawrence R. Leonard:Motion Hearing held on 10/9/2012 re 282 MOTION for Sanctions Plaintiff I/P Engine, Inc.'s Third Motion for Discovery Sanctions Regarding Untimely Discovery Responses filed by I/P Engine, Inc., 277 MOTION for Sanctions Plaintiff I/P Engine, Inc.'s Second Motion for Discovery Sanctions Regarding Untimely Discovery Responses filed by I/P Engine, Inc.. Present were Jeffrey Sherwood, W. Ryan Snow, Frank Cimino, Jr. and Kenneth Brothers on behalf of the plaintiff and David Bilsker, David Perlson, Steve Noona and David Nelson on behalf of the defendants. Mr. Sherwood argues motion #277 and Mr. Bilsker responds. The Court makes rulings on the record. Mr. Cimino argues motion #282 and Mr. Perlson responds. The Court makes rulings on the record. The Court will enter an order in this matter. Parties adjourn to participate in a settlement conference with Judge Leonard in this case and a final pretrial conference later in the afternoon with Judge Jackson. Court adjourned. (Court Reporter Sharon Borden, OCR.)(cdod, ) (Entered: 10/09/2012)

     

    10/09/2012 690 ORDER, AGREED, re. 202 Joint Motion to Dismiss with Prejudice of I/P Engine's Claims Relating to AOL's Advertising.com Sponsored Listings by AOL, I/P Engine, Inc. IT IS THEREFORE ORDERED that I/P Engine's claims for relief against AOL relating to AOL's Advertising.com Sponsored Listings are dismissed with prejudice. IT IS FURTHER ORDERED that all attorneys' fees, costs of court and expenses relating to the dismissed claims shall be borne by each party incurring the same. Entered and filed 10/9/12. (Signed by District Judge Raymond A. Jackson on 10/9/12). (ecav, ) (Entered: 10/09/2012)
    9 Oct 2012, 06:55 PM Reply Like
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