VRINGO ANNOUNCES UPDATE ON LITIGATION AGAINST ZTE IN THE UNITED STATES AND UNITED KINGDOM
February 17 2015 - 9:15AM
NEW YORK - February 17, 2015 -
Vringo, Inc. (NASDAQ: VRNG), a company engaged in the innovation,
development and monetization of intellectual property, today
announced several developments in its global litigation against
ZTE.
In the United States, ZTE's case
against Vringo, which it improperly brought in Delaware, has been
transferred to the United States District Court for the Southern
District of New York, where it will be heard along with Vringo's
existing claim against ZTE for breach of a non-disclosure agreement
between the parties.
"Vringo has answered ZTE's
complaint and looks forward to further addressing ZTE's allegations
regarding Vringo and ZTE's FRAND obligations.
Numerous courts around the world have agreed that Vringo's approach
is in accord with FRAND principles and that it is ZTE, not Vringo,
whose behavior is outside of patent licensing norms," said David
Cohen Vringo's Chief Legal and Intellectual Property Officer.
In the United Kingdom, Vringo
looks forward to the remedy phase of its lawsuit against ZTE for
infringement of the UK part of European Patent 1,212,919 (the "'919
Patent"), which the UK High Court found valid as amended and
infringed by ZTE on November 28, 2014. The Court has ordered the
parties to submit pleadings on remedies, and has scheduled a
hearing for May 22, 2015, in which it will set the structure for
the remainder of the case.
Because ZTE has represented that
it only intends to sell equipment in the United Kingdom that is not
fully compliant with ETSI standards and, according to ZTE, ZTE
therefore will not infringe the claims-in-suit in the UK in the
future; in order to streamline costs and process; and to expedite
the further phases of its litigation in the United Kingdom,
Vringo has withdrawn its infringement claims against ZTE on
the UK parts of European Patents 1,808,029 (the "'029 Patent"),
1,221,212 (the "'212 Patent"), and 1,186,119 (the "'119 Patent").
Vringo's claim against ZTE for infringement of the UK part of
European Patent 1,330,933 remains pending, and is currently
scheduled to be heard by the Court in a trial starting on June 8,
2015.
In other jurisdictions where ZTE
sells products or otherwise infringes these patents, Vringo
continues to maintain its patent infringement lawsuits against ZTE.
The '119 Patent has been held valid and infringed by ZTE in
Germany, prima facie, valid and infringed by
ZTE in the Netherlands, and also remains in suit in France, where
it is scheduled to be heard by the court on April 13, 2015.
The '212 Patent remains in suit in France, where it is
scheduled to be heard by the French court on April 13, 2015, and in
Australia. The '029 Patent remains in suit in Romania, where the
court has granted a preliminary injunction against ZTE, and in
Malaysia, where it is currently scheduled to be heard by the court
on October 26, 2015.
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.
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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