Vringo: No Appeals Court Review Of Patent Ruling

Vringo, Inc. VRNG plunged more than 23 percent Monday after the company said an unfavorable ruling in patent litigation against Google Inc GOOGL won't get reviewed by an appeals court.

Vringo traded recently at $0.64, down 21 percent.

Vringo, sometimes described as a patent troll, said Monday it will ask the U.S. Supreme Court to review the recent decision.

Vringo unsuccessfully sought an "en banc" review by the full U.S. Court of Appeals for the federal Circuit of an unfavorable split decision in August by a four-judge panel.

That decision overturned an 2012 jury verdict that had favored Vringo in a patent case against Google.

The jury in U.S. District Court for the Eastern District of Virginia and subsequent rulings had awarded Vringo more than $47.8 million, plus additional royalties, on patents Vringo had acquired from the once high-flying Lycos Inc., now a unit of India-based Ybrant Digital.