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Vringo, Inc. (VRNG)

  • Tue, Feb. 10, 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
  • Mon, Feb. 9, 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.
  • Wed, Feb. 4, 1:11 PM
    • The Romanian court handling Vringo's (VRNG +4) infringement suit against ZTE in the country has rejected ZTE's attempt to obtain extraordinary relief for an injunction placed on sales of 4G phones and infrastructure gear within the country.
    • ZTE had petitioned the court to require Vringo to pay a €40M bond. Vringo's bond payment remains at €240K. The injunction remains in place "pending trial on the merits."
    • Shares are higher, but have pared their gains for the day after Vringo's PR was released. They rose slightly yesterday after Vringo provided a legal update on its battles against ZTE in the U.K., Romania, Germany, Brazil, and China.
  • Fri, Jan. 23, 1:22 PM
    • A German court has ruled ZTE and Asus didn't infringe the German parts of Vringo's (NASDAQ:VRNG) '136 and '941 European patents. The first patent covers devices (including hotspot-capable hardware) that provide data services between two networks, and the second is related to navigation systems providing traffic info. (8-K)
    • Vringo says it's exploring all possible remedies, including appeal. A German court is also set to rule on the validity of the '136 and '941 patents (the hearing date hasn't yet been set).
    • Vringo has been squaring off against ZTE in many different locales. Last month, a U.K. court ordered ZTE to pay Vringo $938K to cover the latter's legal costs for an infringement suit related to the U.K. part of Vringo's '919 European patent.
  • Tue, Jan. 20, 12:14 PM
    • By a 7-2 margin, the Supreme Court has ruled in favor of Teva Pharmaceuticals in its patent suit against generic drugmakers, thereby reversing a federal appeals court (CAFC) decision that declared a patent in dispute was invalid, and sending the case back for further review.
    • Vringo (NASDAQ:VRNG) appears to have gotten a lift from the ruling. The company is a month removed from stating it will seek a Supreme Court review of the CAFC's adverse ruling against Vringo regarding its infringement suit against Google, after the CAFC denied a petition for an en banc review of its decision. (hat tip: Patent Plays)
    • Shares are still down 82% from where they traded prior to the Google ruling.
  • Dec. 15, 2014, 12:40 PM
    • The federal appeals court that ruled against Vringo (NASDAQ:VRNG) in its infringement suit against Google has denied its petition for en banc review of the ruling.
    • Vringo says it will now seek a Supreme Court review. Lawyer David Boies: "This case presents important questions of patent law and the role of juries in patent cases that require further review. The dissenting opinion is a powerful signal that this case warrants attention."
    • The SC only hears a small fraction of the cases appealed to it. Federal courts have been frequently ruling against IP licensing firms this year, as Unwired Planet can attest.
  • 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. 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.
  • 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
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  • 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
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  • 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
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  • 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."
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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.