Vringo Inc. Still On With U.K. Patent Suit Vs ZTE

Vringo Inc.

withdrew two of its three U.K. patent claims against ZTE Corp.

but said it will press forward with a British trial slated for next month. The withdrawn claims are a key part of Vringo's case and shows "that even they recognize some of the weaknesses of these patents." ZTE's Shen Jianfeng said Wednesday. But a Vringo respresentative told Benzinga that ZTE's comments are "innacurate and misleading" and that the company would offer a statement later Wednesday. Vringo, a New York-based patent troll, has suits pending against ZTE in at least dozen countries worldwide concerning mobile technology patents it acquired as part of a $22 million package from Nokia in 2012. The U.K. litigation consists of two suits filed by Vringo against ZTE in 2012, with a trial for the first suit slated for October and a second suit slated for trial in June 2015. Vringo is engaged in litigation with ZTE in a dozen countries ranging from China and Brazil to Romania and Malaysia. Vringo shares are down more than 70 percent in the past three months, with much of the decline coming after a U.S. appeals court rejected a $30 million verdict it obtained versus Google Inc.

. Vringo traded recently at $0.979, down 1.6 percent. Focused on patent portfolio of which the earliest patent was acquired by us in June 2011. August 2012, Nokia Oy he Company's intellectual property portfolio consists of over 600 patents and patent applications covering telecom infrastructure, internet search and mobile technologies