Market Overview

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

Related VRNG
Vringo Says Remains Confident in Licensing, Litigation and Innovation Strategies
Vringo: Romanian Court Upholds Injunction Against ZTE Romania

February 12, 2015 - Vringo, Inc. (NASDAQ: 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

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.

Posted-In: News Press Releases


Related Articles (VRNG)

View Comments and Join the Discussion!