Vringo Pays Bond TO Continue Enforcement Of Injunction Against ZTE In Romania

February 12, 2015 - Vringo, Inc. VRNG, a company engaged in the innovation, development and monetization of intellectual property, today announced that it has paid the bond ordered by the Bucharest Court of Appeal in Romania to ensure the continued enforcement of the injunction granted by the Bucharest Tribunal against ZTE. On June 30, 2014, the Bucharest Tribunal granted an injunction against ZTE, prohibiting ZTE and its distributors from importing, exporting, introducing on the market, offering for sale, storing, selling, distributing, promoting, and/or conducting any other trading activity with respect to any 4G/LTE mobile phone produced by ZTE and any infrastructure equipment produced by ZTE which incorporates 4G/LTE technology. ZTE appealed the injunction on September 16, 2014. On January 8, 2015, the Court of Appeal rejected ZTE's appeal seeking cancellation of the injunction. The Court of Appeal reinstated the injunction with immediate effect and ordered that Vringo pay a bond of EUR240,000, at a future date, to ensure the continued enforcement of the injunction. ZTE petitioned the Court to modify the amount of the bond to EUR40 million, an amount that it claimed correlated with a more accurate reflection of the damages that ZTE claims to be currently suffering in Romania. On February 4, 2015, the Court denied ZTE's request. On February 5, 2015, ZTE filed an application with the United States District Court for the District of Delaware, for a temporary restraining order and preliminary injunction, which would have prevented Vringo from paying the bond to continue enforcing the injunction in Romania. On February 6, 2015, the Delaware Court granted ZTE's request. On February 9, 2015, Vringo filed a motion to dissolve the temporary restraining order and preliminary injunction. On February 10, 2015, the Delaware Court granted Vringo's request, dissolving the temporary restraining order and preliminary injunction, and ordering the case consolidated with Vringo's lawsuit against ZTE currently pending before the United States District Court for the Southern District of New York. Immediately following the Delaware Court's ruling dissolving the temporary restraining order and preliminary injunction against Vringo, Vringo paid the bond in Romania to continue enforcement of the injunction against ZTE in Romania. Vringo has previously provided notice of the Bucharest Tribunal's injunction to vendors of ZTE handsets and infrastructure equipment in Romania. Vringo will continue to take all necessary steps to enforce the injunction and confirm ZTE's compliance therewith. On the same day as ZTE filed the application with the Delaware Court, ZTE also filed inter partes review (IPR) requests for five of Vringo's United States patents. The requests, filed with the Patent Trial and Appeal Board ("PTAB") of the United States Patent and Trademark Office, will remain pending until the PTAB makes a preliminary decision on whether to grant the requests and thus review the patents. While these patents have counterparts that Vringo and ZTE are litigating in other countries, none of these United States patents are currently asserted in litigation in the United States.