VRINGO STATEMENT ON FORTHCOMING PATENT INFRINGEMENT TRIAL AGAINST ZTE IN MALAYSIA
December 17 2014 - 11:05AM
NEW YORK - December 17, 2014 -
Vringo, Inc. (NASDAQ: VRNG), a company engaged in the innovation,
development and monetization of intellectual property, today
provides an update on its patent infringement action against ZTE in
Malaysia:
On June 23, 2014, Vringo
Infrastructure, Inc. sued ZTE Malaysia Corporation Sdn. Bhd. and
ZTE Corporation (collectively, "ZTE") in the High Court of Malaya
at Kuala Lumpur. The filings allege infringement of Malaysian
Patent MY-142706-A, which is the Malaysian counterpart to 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 in connection with 3G and 4G LTE
standards.
When Vringo filed the case in
June, it initially sought an interlocutory (interim) injunction
against ZTE's infringement of the patent during the time period
prior to trial. The court then set the full trial to commence
on March 9, 2015. Vringo determined it would be more
efficient to withdraw its claim for interim relief and proceed to
trial where it is seeking a permanent injunction against ZTE's
infringement, among other remedies. At a hearing on December
16, 2014, Vringo formally withdrew its request for interim relief.
Although ZTE Malaysia requested costs in a quantified amount, the
court denied the request and deferred the determination of the
costs to the end of trial. Vringo estimates the costs to be
no more than $2,000.
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
HUG#1881297
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