Vringo VRNG, a company
engaged in the innovation, development and monetization of intellectual
property and mobile technologies, today provided an update to its
shareholders on its recent and near term events.
"We are taking this opportunity to update our shareholders on progress
in three of our wholly-owned subsidiaries' ongoing patent enforcement
actions: (i) against Google and others in U.S. District Court for the
Eastern District of Virginia and the Court of Appeals for the Federal
Circuit; (ii) against ZTE Corporation and its subsidiaries in the United
Kingdom, Germany, France, and Australia, and a preliminary inquiry in
Spain; and (iii) against ADT and Tyco Integrated Security in U.S.
District Court for the Southern District of Florida," said Andrew D.
Perlman, Chief Executive Officer of Vringo.
I/P Engine, Inc. v. AOL Inc., Google, Inc. et al.
Eastern District of Virginia
On November 6, 2012, a jury in U.S. District Court in Norfolk, Virginia
ruled in favor of Vringo's wholly owned subsidiary I/P Engine, Inc. and
against Google and the other defendants with respect to their
infringement of the asserted claims of asserted patents. The jury also
upheld the validity of the asserted patents, found that past damages are
due to I/P Engine, and established a royalty rate.
I/P Engine's case relates to Google's search advertising system, not its
organic search system. Therefore, Google's "Hummingbird" update to its
organic search system is not related to the product that I/P Engine
accused. Vringo does not believe the "Hummingbird" update has any
impact on its claims.
As of August 26, 2013, I/P Engine's Notice of Calculation of
Supplemental Damages, Pre-judgment Interest and Post-judgment Interest
was fully briefed and is ripe for determination by the district court.
The parties are currently litigating before the district court the issue
of ongoing royalties and what additional reasonable royalty is owed to
I/P Engine for Google and the other defendants' continued infringement.
Google has asserted that, as of May 2013, it implemented a "design
around" to its system such that it no longer infringes the asserted
patents. To resolve the ongoing royalty rate and whether Google's
alleged design around is colorably different, the district court set a
discovery and briefing schedule.
-- I/P Engine served its expert reports on September 25, 2013.
-- Defendants should serve their expert reports on October 15, 2013.
-- The parties will then submit briefs to the district court on October 30,
2013 and November 10, 2013, respectively.
The district court also wants the parties to attempt to set their own
royalty rate before the district court imposes one. To that end, the
district court ordered that within five days of completing the
aforementioned discovery and briefing schedule, the parties shall meet
to negotiate an appropriate ongoing royalty rate, using 20.9% of U.S.
AdWords revenues as the appropriate royalty base.
Court of Appeals for the Federal Circuit
I/P Engine and Defendants have appealed various portions of trial to the
Court of Appeals for the Federal Circuit.
-- Defendants filed their opening brief on July 22, 2013.
-- I/P Engine filed its response and cross-appeal brief on September 26,
2013.
-- Defendants' response and reply brief is due November 7, 2013.
Vringo expects this appeal to be scheduled for oral argument during the
first quarter of 2014.
Vringo Infrastructure, Inc. v. ZTE Corporation
Vringo's wholly owned subsidiaries, Vringo Infrastructure, Inc. and
Vringo Germany GmbH, have filed a combined 7 patent infringement actions
against ZTE Corporation and its subsidiaries in the United Kingdom,
Germany, France, and Australia, and a preliminary inquiry in Spain. The
asserted patents relate to wireless infrastructure and handsets.
The hearing on infringement in Germany is scheduled for October 15,
2013. Vringo is seeking injunctive relief, rendering of accounts, and
damages.
ZTE describes itself as "a leading global provider of telecommunications
equipment and network solutions," with recently reported annual revenue
of US $13.7 billion (RMB 86.254 billion), according to filings with the
Hong Kong Stock Exchange. According to ZTE's public filings, the company
generates its revenue primarily from the sale of telecommunications
equipment and handsets.
In a previous hearing, Vringo made public a term sheet it provided to
ZTE outlining proposed license terms for standard essential patents.
The term sheet is available online at: http://bit.ly/11tQrGZ (on page
5).
Vringo Infrastructure, Inc. v. ADT Corporation and Tyco Integrated
Security, LLC
On September 12, 2013, Vringo's wholly owned subsidiary, Vringo
Infrastructure, Inc., filed a patent infringement lawsuit against The
ADT Corporation, ADT, LLC, ADT Security Services, Inc., and Tyco
Integrated Security, LLC in the United States District Court for the
Southern District of Florida.
The lawsuit alleges infringement of U.S. Patent No. 6,288,641, entitled
"Assembly, and Associated Method, for Remotely Monitoring a Surveillance
Area". The asserted patent relates to, amongst other things, the use of
a mobile terminal to remotely monitor a location (e.g., home or
business).
Additional Information
The court dockets for the cases are publicly available on the Public
Access to Court Electronic Records website, http://www.pacer.gov, which
is operated by the Administrative Office of the U.S. Courts. The U.S.
District Court proceedings are pending in the Eastern District of
Virginia, Norfolk Division. Documents regarding United States Patent
and Trademark Office proceedings are publicly available on the Patent
Application Information Retrieval website,
http://portal.uspto.gov/pair/PublicPair.
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 500 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. Vringo operates a global
platform for the distribution of mobile social applications and
services. For more information, visit: www.vringoIP.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 NASDAQ;
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; 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 for the year ended December 31, 2012 filed with the SEC on
March 21, 2013. 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 Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Vringo, Inc. via Thomson Reuters ON
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