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Vringo, Inc. (VRNG)

  • Nov. 28, 2014, 10:07 AM
    • A U.K. patent court has ruled ZTE infringed the U.K. portion of Vringo's (NASDAQ:VRNG) '919 European patent, which covers 3G/4G infrastructure gear. The court also ruled the patent to be valid as amended.
    • A subsequent hearing will be held to address remedies. Vringo has sued ZTE in a number of different markets (I, II, III).
    • Update: ZTE states "the impact of the decision on ZTE’s business operations in the UK is limited as no ZTE products containing technology related to the ‘919’ patent are currently shipped in the country."
  • Oct. 17, 2014, 2:24 PM
    • The White House has nominated Michelle Lee, once Google's lead patent counsel, to head the USPTO. Lee is currently the USPTO's deputy director.
    • Google, like several other tech giants, has been a strong proponent of overhauling the U.S. patent system, with an eye towards limiting software patents and making it easier for defendants to recover legal fees from perceived patent trolls in the event that they win.
    • In June 2013, the White House unveiled a slew of executive actions and legal actions meant to curtail patent system abuses. This year, the Supreme Court upheld the patentability of software concepts, but also set limits. That ruling has been followed by a string of adverse decisions levied by lower federal courts against companies pursuing infringement claims.
    • IP licensing firms: ACTG, VHC, WILN, VRNG, CRDS, DSS, FNJN, MARA
  • Oct. 15, 2014, 11:20 AM
    • Not surprisingly (given past statements), Vringo (VRNG +4.9%) has "submitted a petition for rehearing en banc in its case against Google and certain of Google`s customers" to the U.S. federal appeals court that ruled against it in August.
    • Vringo's petition "argues that the majority`s opinion in this case presents important questions of law and is at odds with a series of Supreme Court and Federal Circuit decisions, which do not allow appellate judges to disregard a jury`s detailed findings under these circumstances."
    • Shares have moved higher following the announcement.
  • Oct. 7, 2014, 6:34 PM
    • In a shareholder update, Vringo (VRNG -4.7%) says it has hired David Boies, chairman of law firm Boies, Schiller, and Flexner LLP, to assist with the company's efforts to obtain a review of the CAFC's adverse Google ruling. Boies joins appellate counsel Joseph R. Re, as well as trial counsel provided by law firm Dickinson Shapiro LLP.
    • The company adds it will file a petition for an en banc review of the Google ruling (previous) on Oct. 15, and that supporters can file amicus briefs by Oct. 22. Meanwhile, several trials and hearings related to Vringo's legal battle against ZTE are set to take place between now and year's end.
    • Vringo had $26.5M in current assets at the end of September, down from $29M at the time of its Sep. 2 shareholder update.
  • Sep. 2, 2014, 12:32 PM
    • In a shareholder update, Vringo (NASDAQ:VRNG) says it's "preparing for the next steps" in its legal battle against Google following last month's appeals court ruling.
    • The company also notes it has more than 10 hearings scheduled this year for various IP suits - a list of hearing dates is provided for its disputes with ZTE and Asus - and that it currently has $29M in cash and no debt.
    • Vringo adds it "continues to review assets and strategic opportunities that it believes would add value for our shareholders."
    • Shares still -66% from where they traded prior to the appeals court ruling.
    • Previous: Vringo to seek en banc review of Google ruling
  • Aug. 26, 2014, 12:45 PM
  • Aug. 20, 2014, 12:46 PM
    | Comment!
  • Aug. 20, 2014, 11:14 AM
    • As expected, Vringo (VRNG -8.2%) plans to file a petition for an en banc review of the adverse federal appeals court ruling it received last week for its infringement suit against Google.
    • Federal Circuit rules require Vringo to file a petition by Sep. 15. However, the company has filed an unopposed motion for a 30-day extension.
    • SA author Alexander Maxwell has argued Justice Raymond Chen, who dissented from the appeals court ruling, will likely push for an en banc hearing to be granted.
  • Aug. 19, 2014, 12:49 PM
    | 1 Comment
  • Aug. 18, 2014, 2:10 PM
    • Vringo (VRNG +20.8%) director Joseph Spiegel bought 30K shares on Friday at $0.89, after Vringo cratered in response to an appeals court's ruling on its infringement suit against Google. CFO Anastasia Nyrkovskaya bought 16K shares today at $0.91.
    • Shares still -66% from Thursday's close. SA author Alexander Maxwell argues Vringo's "most likely recourse" following the Google ruling is to request an en banc hearing, which requires all of the judges on the appeals court to rule on the suit. He suspects Justice Raymond Chen, who dissented from the ruling, will "push hard" for an en banc hearing behind closed doors.
    • Should the hearing request be denied, Vringo could appeal to the Supreme Court. But as Maxwell observes, the high court only takes up a small fraction of the thousands of cases appealed to it each year.
  • Aug. 15, 2014, 12:48 PM
    | Comment!
  • Aug. 15, 2014, 12:26 PM
    • Vringo (NASDAQ:VRNG) has cratered after the appeals court handling in its suit against Google ruled Vringo's asserted patent claims are invalid due to obviousness.
    • In a short official statement, Vringo says it's "evaluating its options with respect to the case."
  • Aug. 15, 2014, 11:13 AM
    • The federal appeals court handling Vringo's (VRNG -10.8%) suit against Google has ruled against Vringo, arguing the patent claims it asserts "disclose no new technology, but instead simply recite the use of a generic computer to implement a well-known and widely-practiced technique for organizing information." (the full ruling - .pdf)
    • The appeals court cites a recent Supreme Court ruling that upheld the patentability of software concepts, but barred companies from patenting a mere abstract idea on a computer.
    • Vringo has been halted. Shares plunged shortly before the halt.
  • Jul. 2, 2014, 12:00 PM
    • Vringo (VRNG +4.8%) says it has been mailed a notice by the USPTO stating "it will issue a certificate confirming that all of the claims of U.S. Patent No. 6,314,420 remain valid and unchanged."
    • The '420 patent is one of two being asserted by Vringo in its suit against Google. The USPTO affirmed the validity of the other one (Vringo's '664 patent) last fall.
    • The notice follows a non-final rejection by the USPTO of certain claims within the '420 patent back in January.
  • Jun. 19, 2014, 1:15 PM
    • In a closely-watched case, the Supreme Court has upheld the patentability of software concepts, albeit while setting limits: Companies can't patent a mere abstract idea on a computer, but can patent software ideas that advance or improve upon existing ideas.
    • The ruling comes a month after Sen. Pat Leahy shelved a hotly-contested bill aimed at limiting the power of patent trolls. Many tech giants and startups backed the bill, while IP licensing firms staunchly opposed it.
    • A few licensing firms are trading lower on a moderately down day for tech: VRNG -2.2%. ACTG -1.3%. VHC -2.8%. PRKR -3.8%. SPEX -3.1%.
    • Other related names: RPXC, WILN, DSS, CRDS, MARA.
  • Jun. 18, 2014, 12:13 PM
    • A Rio de Janeiro court has upheld a preliminary injunction against ZTE for infringing a Vringo (VRNG +1.1%) 3G/4G mobile infrastructure patent.
    • Vringo, which posted a $900K bond in April to enforce the injunction, says the injunction will likely stay in place until a court decision arrives. The company adds "the average length of time in Brazil from the filing of a claim on the merits until final judgment is two to four years."
    • Vringo has sued ZTE in several locales. Three weeks ago, a Chinese patent board upheld a Vringo patent challenged by ZTE, and an Indian court postponed hearings related to a ZTE suit that has resulted in an injunction.
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Company Description
Vringo Inc is engaged in identifying, generating, acquiring, and deriving economic benefits from intellectual property assets. Its intellectual property portfolio consists of over 500 patents and patent applications.