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Critical Update On Google Request To Postpone Vringo Ongoing Royalty Motion

|Includes: GOOG, XpresSpa Group (XSPA)

Today Seeking Alpha published my article, Google Request To Postpone Vringo Ongoing Royalty Motion Ignored, in which I said:

... if the Judge wanted to grant Google's motion to postpone consideration of Vringo's motion for post-judgment royalties, I strongly believe he would have already done so by now. The fact that he hasn't, signals to me that he won't.

Within an hour or two after Seeking Alpha published my article, the Judge issued an order granting Google's postponement motion. In the Order, the Judge said:

... the Court's consideration of said motion shall be postponed until after the Court rules on the parties' post-trial motions currently pending before the Court under Federal Rules of Civil Procedure 50, 52, and 59. The Court will provide further guidance on the revised briefing schedule for Plaintiffs Motion for Post-Judgment Royalties as necessary after the Court completes its consideration of the other relevant post-trial motions.

Thus, obviously my conclusion from my article earlier today was wrong. I did say in my article that:

Of course, he could grant Google's postponement request at any time .... . It's his court and he can do what he pleases when he pleases.

But, there's no sugar coating it, I was wrong. Isn't the first time, and won't be the last time, either.

Disclosure: I am long VRNG.

Additional disclosure: As I disclose herein, I am long VRNG as of the publication of this instablog (VRNG is at 3.24) and my personal opinion at the moment as a result of the issues discussed herein is that it has a fair value of about 3.40-3.50. I'm not a financial advisor, and that is not a suggestion to any one to buy or sell VRNG. I merely state it because the Seeking Alpha editors have asked me to do so anytime I write about VRNG. VRNG is, in my opinion, highly volatile, as is the litigation process in which it is involved and, therefore, I may change my position in VRNG at any moment for any reason or no reason at all. Please see all my previous articles, including specifically those linked to herein, for additional disclosures.