Vringo Receives Favorable Ruling in Patent Case
Vringo (NYSE: VRING) was awarded a victory in its patent case Friday by an Eastern Virginia district court Judge.
The case is between I/P Engine, a company recently acquired by Vringo, and a list of high profile defendants including Google(NASDAQ: GOOG), IAC Search and Media(NASDAQ: IACI), Gannett Company(NYSE: GCI), and Target (NYSE: TGT). Vringo claims that the defendants infringed upon I/P Search's patents on "collaborative search."
The judge sided with Vringo on their definition of "collaborative feedback data" as "data from system users with similar interests or needs regarding what informs such users found to be relevant." This hints towards an overall victory for Vringo in the patent infringement case and bodes well for them when it comes time to determine damages.
Vringo commented on the ruling saying ""we are pleased that the Court agreed with us that the defendants failed to sufficiently show that the Court's previous conclusion on one of the terms warranted reconsideration. In the Court's reconsideration of the second term, we believe that the Court clarified its interpretation in a manner that is consistent with the proposals submitted by the plaintiff and all defendants in the case. "
The favorable ruling should help Vrango's stock price. It will be interesting to see what the final outcome and damages of the case are.
Vringo traded around $3.23 Friday
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