Shares Of Vringo Are Becoming A Long-Term Investment For Investors: Why It Might Not Be A Bad Thing After All
Justin Giles • 152 Comments
Justin Giles • 152 Comments
Is Vringo A Lottery Ticket Or An Investment?
EnhydrisPECorp • 126 Comments
EnhydrisPECorp • 126 Comments
Fri, Jul. 15, 3:00 PM
Wed, Jun. 15, 3:07 PM
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Mon, Apr. 25, 12:47 PM
Thu, Apr. 14, 12:45 PM
Fri, Feb. 19, 12:45 PM
Dec. 9, 2015, 12:48 PM
Oct. 16, 2015, 9:24 AM
- Vringo (NASDAQ:VRNG) has bought a holding company (named IDG) consisting of fliCharge, a wireless charging technology developer, and Group Mobile, a maker of rugged PCs, tablets, and handheld computers. The company is issuing preferred stock convertible into common shares equal to 11.4% of the combined company's equity.
- fliCharge's technology enables the simultaneous charging of multiple devices on the same pad regardless of position or power needs. Vringo asserts fliCharge is "commercializing, partnering or developing products in numerous markets including automotive, education, office, healthcare, power tools and vaporizers." Group Mobile's customers include enterprises, military suppliers, small businesses, and individuals.
- Vringo CEO Andrew Perlman: "Our existing patent licensing and litigation strategy remains intact and on track. We believe this acquisition offers diversification to our shareholders and additional licensing opportunities." The move comes shortly after the Supreme Court declined to review an adverse appeals court ruling regarding Vringo's suit against Google.
- Vringo has risen to $0.50 premarket.
- Update: More details on the acquisitions can be found in a Vringo presentation (.pdf). IDG had 2014 revenue of $7M+. fliCharge's charging pads are said to be "offered in various Ford, Chrysler, and Toyota models" through a partnership with an unnamed tier-1 auto supplier. A partnership also exists with "smart furniture solutions" maker Bretford. (hat tip: SA commenter Seppo Sahrakorpi). Vringo has pared its gains: Shares are now up 7.7%.
Jul. 31, 2015, 11:21 AM
- "Vringo (NASDAQ:VRNG) respectfully requests that this Court order that all responsive documents be produced from all ZTE custodians' electronic and hardcopy files, and from all of ZTE's internal networks, by a date certain." Thus reads the first sentence in the conclusion of a Vringo motion to compel complete document production by ZTE.
- Vringo accuses ZTE of having "a team of more than 115 employees working on the Vringo litigation and asserting 'countermeasures' against Vringo," and of providing these employees with Vringo's NDA material. "Last week ZTE represented that its document production was substantially complete. ZTE now has admitted that it never collected (or even looked for) documents from the vast majority of ZTE employees that received Vringo's NDA material ... based on ZTE's email retention and newly disclosed destruction procedures, it is highly likely that evidence was destroyed."
- Prior Vringo/ZTE coverage
Jun. 29, 2015, 10:52 AM
- Vringo (NASDAQ:VRNG) states a Brazilian appellate judge has denied ZTE's request to overturn a preliminary injunction placed on ZTE 3G/4G mobile infrastructure hardware ruled to be infringing Vringo's IP.
- Vringo has also filed a brief with the trial court that issued the injunction to request "further enforcement measures to secure ZTE`s compliance with the injunction, and asking the court to order ZTE to pay an accumulated daily fine of R$ 8,080,000-approximately $2.5 million-for ZTE`s violation of the injunction." A decision is expected shortly.
- In Romania, a Bucharest appeals court has denied a ZTE request to cancel a January ruling placing an injunction on ZTE 4G phones and infrastructure hardware. Vringo adds it's "investigating whether ZTE Romania and its retailers have breached the preliminary injunction."
- In the U.S., a Southern New York district court has "granted Vringo's motions to de-designate ZTE's responses to discovery requests, including those that reference ZTE's communications with the National Resources Development Counsel ("NDRC") of the People`s Republic of China, as 'Highly Confidential - Attorneys Eyes Only - US Only'." Vringo declares the ruling will allow it to "participate more effectively in its breach of contract case against ZTE, in which the Court has already held that ZTE breached a non-disclosure agreement signed between the parties in December 2013."
- Prior Vringo/ZTE coverage
- Last Friday: Vringo files $50M mixed shelf
May 14, 2015, 12:27 PM
- Vringo (VRNG +3.4%) has officially filed a petition for a Supreme Court review of last August's federal appeals court (CAFC) ruling that overturned a Virginia jury's infringement verdict against Google.
- The company stated in December it planned to seek a Supreme Court review, after the CAFC denied Vringo's petition for an en banc review of its ruling. The S.C. only reviews a tiny % of petitioned cases.
- Vringo's petition argues "the Supreme Court should intervene to ensure that patent litigation does not continue to be at risk of arbitrary re-litigation years after a patent has been issued by appellate judges who did not witness the trial and have only the cold record to review."
- Separately, ZTE states China's patent re-examination board has invalidated a Vringo patent for the 13th time in 9 months. The invalidations come ahead of a June 1 hearing by a Shenzhen court for a ZTE anti-monopoly suit against Vringo.
May 1, 2015, 9:43 AM
- An online listing of the statuses of various U.K. lawsuits suggests Vringo (NASDAQ:VRNG) has settled its British infringement suit against ZTE. Vringo has jumped in response.
- Vringo stated a month ago it had filed a Statement of Case in the U.K. that "sets out terms for a FRAND license in the context of appropriate relief being determined" for a patent a local court had ruled ZTE to be infringing. Last December, ZTE was ordered to pay $938K in Vringo legal fees on account of having been ruled to infringe the U.K. part of a Vringo European patent.
Apr. 8, 2015, 5:04 PM
- A Southern New York federal court has ruled ZTE breached an NDA with Vringo (NASDAQ:VRNG) that formed the original basis of Vringo's U.S. claim against the Chinese IT/telecom equipment firm.
- The court, which assumed control of Vringo's U.S. suit against ZTE in February, has also granted Vringo's requests to consolidate its NDA case and FRAND licensing case (previous) against ZTE for purposes of pretrial discovery, to extend the deadline for fact discovery, and to seal an unredacted version of Vringo's Motion to Compel.
- Vringo also states a French infringement trial against ZTE will start on April 13, and that Brazilian "court-appointed experts" are finalizing reports Vringo believes will demonstrate ZTE's flouting of a local injunction that was upheld last month.
- Shares rose to $0.745 in regular trading. They're up 35% YTD, but remain sharply below where they traded before last summer's adverse CAFC Google ruling.
Mar. 3, 2015, 11:28 AM
- Volatile Vringo (VRNG +7%) has rallied strongly over the last two trading days after providing an update on its ongoing legal battle against ZTE, and publishing patent licensing rate term sheets on its site.
- Of note: Vringo stated ZTE is seeking (in the U.S.) "a final determination on a global FRAND license for ZTE to Vringo`s standard-essential patents," and that its complaint will be heard in a Southern New York district court.
- Also: Vringo says it filed a Statement of Case in the U.K. that "sets out terms for a FRAND license in the context of appropriate relief being determined" for a Vringo patent ZTE was ruled to infringe, should ZTE request a FRAND license.
- Shares soared last month on hopes a ZTE settlement was near, but gradually gave back a chunk of their gains.
Feb. 10, 2015, 11:51 AM
- Four days after ZTE filed a request in a Delaware court for a temporary restraining order (TRO) against Vringo (NASDAQ:VRNG) to prevent it from making a deposit that would allow a Romanian injunction to be enforced, a motion to dissolve the TRO has been granted, and the case transferred to a Southern New York district court. (hat tip: Patent Plays)
- Also: Court docs indicate ZTE's chief IP officer recently visited Vringo's NYC office last week.
- Vringo's shares are up 53% over the last two trading days.
- Yesterday: Vringo closes up 30.6% on ZTE settlement hopes
Feb. 9, 2015, 5:02 PM
- Quiet for much of the day, Vringo (NASDAQ:VRNG) blasted off during the final hour. Growing hopes for a favorable ZTE settlement are the apparent trigger.
- Late on Friday, ZTE filed a request in a Delaware federal court for a temporary restraining order (TRO) and preliminary injunction against Vringo to prevent it from submitting a deposit to enforce a recent Romanian injunction - ZTE phones sold in Europe are produced in Romania - while stating it wants to license Vringo's patents on FRAND terms. Vringo responded (.pdf) with a letter to the judge handling the case accusing ZTE of violating an NDA.
- SA author Patent Plays: "It now appears Vringo, who was "slow rolling" the Romania cash deposit, may have done so to provoke ZTE into filing a FRAND lawsuit here in the United States ... It now appears that Vringo may have strategically aligned these series of events to advance not only a ZTE Frand settlement, concerning Vringo's 3G 4G LTE wireless patents, but a far reaching NDA lawsuit affecting the entire smartphone industry."
- Update: Vringo is up another 12.4% to $0.91.
Vringo, Inc. operates as a development stage company, which engages in the innovation, development and monetization of intellectual property and mobile technologies. It focuses on identifying, generating, acquiring, and deriving economic benefits from intellectual property assets. The company... More
Industry: Multimedia & Graphics Software
Country: United States
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