Vringo (VRNG +2.6%) argues before the appeals court now handling its suit against Google that the Supreme Court's Monday ruling in a damages suit involving MGM requires the court to reject a Virginia district court's ruling to "apply laches to bar all damages accruing within the six-year period" prior to the filing of Vringo's suit.
Shares spiked higher in response to the publishing of Vringo's letter, but have quickly given back some of their gains.
A federal appeals court heard oral arguments regarding the infringement verdict delivered by an Eastern Virginia district court in Vringo's (VRNG -10.3%) favor for its IP suit against Google, AOL, and others.
During the proceedings, the complexity of the Virginia jury's verdict sheet was questioned, and Circuit Judge Evan Wallach stated he had "problems with the jury's findings." Peer Raymond Chen also expressed concerns. "Maybe it’s a hash -- the jury made a hash of it."
Both Google and Vringo have appealed the verdict, which ultimately resulted in Vringo being assigned by the court a 6.5% royalty on 20.9% of Google's AdWords search ad revenue. Google wants the decision thrown out; Vringo wants royalties dating back to Sep. '05, rather than just from the time the suit was filed.
A U.S. federal appeals court will hear oral arguments related to Vringo's (VRNG +3.3%) infringment suit against Google, AOL, and others at 10AM ET on May 6. (PR)
The hearings will follow a Jan. 28 ruling by an Eastern Virginia district court to give Vringo a 6.5% royalty on a base of 20.9% of Google's AdWords search ad revenue. Both Vringo and the defendants have appealed the case.
Vringo (VRNG +0.7%) announces a German appeals court has denied a request by ZTE (ZTCOY) to stay the enforcement of an injunction (levied in December) on the sale of base stations ruled to be infringing Vringo's IP.
Vringo states it's "asserting twelve patents in six countries" against ZTE, and that it expects seven cases against the Chinese telecom equipment vendor to be heard in 2014.
The company asserts it has offered to license its patents to ZTE on what it considers to be FRAND terms.
The USPTO has issued a non-final rejection of certain claims in Vringo (VRNG) patent 6,314,420 (USPTO filing) that were challenged by Google. The patent is one of two Vringo has asserted in Virginia suit against Google.
Vringo notes the USPTO's move is similar to that in three other proceedings initiated by Google, and which later resolved in Vringo's favor.
The announcement comes two days after Vringo shares flew higher in response to the Virginia court's decision to grant the company a 6.5% royalty on a royalty base of 20.9% of Google's AdWords search ad revenue. Shares have since given back a decent portion of their initial gains.
After coming off a halt, Vringo (VRNG) is blasting off in response to yesterday's court ruling, which assigned the company a 6.5% royalty on a "royalty base" of 20.9% of Google's AdWords search ad revenue (amounts to 1.36% of total AdWords revenue).
There's a good chance Google will appeal the ruling.
$VRNG: Settlement with Belkin 2B announced this week. Weekend article: http://bit.ly/1rhp5oz Mi article will discuss ZTE/GOOG also
Sep 22, 8:55 AM
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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.