NEW YORK - December 19, 2014 - Vringo, Inc. (NASDAQ: VRNG), a company engaged in the innovation, development and monetization of intellectual property, today provided an update.
With respect to Vringo's ongoing disputes with ZTE and ASUS:
In the United Kingdom, on November 4th, the liability phase of the first trial relating to the Vringo patents asserted against ZTE concluded. On November 28th, the Court found that ZTE has infringed the UK part of Vringo's European Patent 1,212,919 (the "'919 Patent"), which relates to 3G and 4G infrastructure equipment. The Court also confirmed that the '919 Patent is valid as amended. The Court is expected to set a schedule for addressing the remedies sought by Vringo against ZTE at a hearing in January 2015.
In Germany, on November 21st, the Court heard Vringo's motion alleging that were reasons to believe that ZTE's accounting following an order by the Court, together with the injunction granted against ZTE in December 2013, with respect to Vringo's European Patent 1,186,119, were made without due diligence. Today, the Court ordered the Chief Executive Officer of ZTE's German subsidiary to confirm by oath that the accounting provided by ZTE pursuant to the Court's order was correct. Under German law, an incorrect declaration in place of an oath may result in criminal penalty.
In Romania, on December 17th, the Court held a hearing on ZTE's appeal of the injunction granted against ZTE on July 1, 2014. Following the hearing, the Court ordered further argument on January 7, 2015. The injunction, prohibiting ZTE and its distributors from importing, exporting, introducing on the market, offering for sale, storing, selling, distributing, promoting, and/or conducting any other trading activity with respect to any 4G/LTE mobile phone produced by ZTE and any infrastructure equipment produced by ZTE which incorporates 4G/LTE technology, was temporarily suspended by the Court on October 10th pending the appeal. Vringo's underlying infringement case, in which Vringo is seeking damages and a permanent injunction, is expected to be heard in the second half of 2015.
In Spain, on November 25th, the court held an oral hearing in Vringo's case against ASUS with respect to European Patent 0,748,136. The Court's judgment is expected in the first quarter of 2015.
In Germany, on November 27th, the Court held oral hearings in Vringo's cases against ZTE and ASUS with respect to Vringo's European Patents 0,748,136 and 0,710,941. The Courts' judgments are expected early in 2015.
In Brazil, the injunction granted by the Court on April 15, 2014, against ZTE Corporation and ZTE do Brasil, remains in force.
In the United States, in Vringo's case against ZTE for breach of the parties' non-disclosure agreement, Vringo's Motion for Preliminary Injunction and Motion for Judgment on the Pleadings is fully briefed and pending resolution by the Court. The court's temporary restraining order against ZTE remains in effect. Trial is not yet scheduled.
In India, the Court continues to hear argument pertaining to Vringo's motions to hold ZTE in contempt. These motions stem from Vringo's assertion that ZTE failed to comply with orders previously issued by the Court in both of Vringo's infringement actions against ZTE. Vringo has also asked the Court to order ZTE to deposit additional security. The Court's rulings on Vringo's contempt motions remain pending.
Vringo expects the following trials and hearings against ZTE to occur in 2015:
In Malaysia, the oral hearing in Vringo's case against ZTE with respect to Vringo's Malaysian Patent 142,706 is scheduled to be held on March 9, 2014. The Court's judgment is expected in the second quarter of 2015.
In France, the full day oral hearing in Vringo's case against ZTE with respect to Vringo's European Patents 1,186,119 and 1,221,212 is scheduled to be held on April 13, 2015.
In Germany, ZTE's appeal with respect to its infringement of Vringo's European Patent 1,186,119 is scheduled to be held on July 22, 2015.
In Australia, the trial in Vringo's case against ZTE with respect to Vringo's Australian Patents 2005/212,893 and 773,182 is expected to commence in the second half of 2015.
With respect to the dispute between Vringo's wholly-owned subsidiary, I/P Engine, Inc. and Google, Vringo plans to seek review by the U.S. Supreme Court of the U.S. Court of Appeals for the Federal Circuit's split opinion, which issued on August 15, 2014, and reversed a judgment in favor of I/P Engine against Google and certain of Google's customers in the U.S. District Court for the Eastern District of Virginia. David Boies, Chairman of Boies Schiller & Flexner LLP, will represent I/P Engine in filing a petition for writ of certiorari at the U.S. Supreme Court.
About Vringo, Inc.
Vringo, Inc. is engaged in the innovation, development and monetization of intellectual property and mobile technologies. Vringo's intellectual property portfolio consists of over 600 patents and patent applications covering telecom infrastructure, internet search, and mobile technologies. The patents and patent applications have been developed internally, and acquired from third parties. For more information, visit: www.vringo.com.
This press release includes forward-looking statements, which may be identified by words such as "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein. Factors that could cause actual results to differ materially include, but are not limited to: our inability to license and monetize our patents, including the outcome of the litigation against online search firms and other companies; our inability to monetize and recoup our investment with respect to patent assets that we acquire; our inability to develop and introduce new products and/or develop new intellectual property; new legislation, regulations or court rulings related to enforcing patents, that could harm our business and operating results; unexpected trends in the mobile phone and telecom infrastructure industries; our inability to raise additional capital to fund our combined operations and business plan; our inability to maintain the listing of our securities on a major securities exchange; the potential lack of market acceptance of our products; potential competition from other providers and products; our inability to retain key members of our management team; the future success of Infomedia and our ability to receive value from its stock; and other risks and uncertainties and other factors discussed from time to time in our filings with the Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K filed with the SEC on March 10, 2014. Vringo expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
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