VRINGO FILES LAWSUIT AGAINST ZTE IN ROMANIA
June 26 2014 - 09:00AM
NEW YORK - June 26, 2014 - Vringo,
Inc. (NASDAQ: VRNG), a company engaged in the innovation,
development and monetization of intellectual property and mobile
technologies, today announced that its wholly owned subsidiary,
Vringo Infrastructure, Inc., filed a patent infringement lawsuit
against ZTE in Romania.
On June 23, 2014, Vringo
Infrastructure, Inc. sued ZTE Corporation and its wholly owned
subsidiary ZTE Romania SRL, ASBIS Romania SRL, Ilex Com SA, Dante
International SRL, and SC TEOVLAD COM SRL in the Bucharest Tribunal
Civil Section. The filings allege infringement of the
Romanian part of European Patent 1,808,029. The patent in suit
relates to the handover between different networks initiated by a
mobile device. This patent has been declared essential to ETSI in
connection with 4G LTE standards.
About
Vringo, Inc.
Vringo, Inc. is engaged in the
development and monetization of intellectual property worldwide.
The Company's intellectual property portfolio consists of over 600
patents and patent applications covering telecom infrastructure,
internet search and mobile technologies. The Company's patents and
patent applications have been developed internally and acquired
from third parties. For more information, visit:
www.vringo.com.
Forward-Looking Statements
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.
Contacts
Investors and Media:
Cliff Weinstein
Executive Vice President
Vringo, Inc.
646-532-6777
cweinstein@vringoinc.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Vringo, Inc. via Globenewswire
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