Last $0.70 USD
Change Today -0.0023 / -0.33%
Volume 308.9K
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As of 8:10 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

vringo inc (VRNG) Snapshot

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05/5/14 - $4.27
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01/6/15 - $0.46
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vringo inc (VRNG) Details

Vringo, Inc., together with its subsidiaries, develops, acquires, licenses, protects, and monetizes intellectual property worldwide. Its intellectual property portfolio consists of approximately 500 patents and patent applications covering telecom infrastructure, Internet search, and mobile technologies. The company is headquartered in New York, New York.

18 Employees
Last Reported Date: 03/10/14

vringo inc (VRNG) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $385.0K
Chief Legal and Intellectual Property Officer
Total Annual Compensation: $300.0K
Total Annual Compensation: $385.0K
Compensation as of Fiscal Year 2013.

vringo inc (VRNG) Key Developments

Vringo, Inc. Announces Favorable Ruling against ZTE in Romania

Vringo, Inc. announced it has received a favorable ruling against ZTE in Romania. The court rejected ZTE's attempt to obtain extraordinary relief following the court's earlier rejection of ZTE's appeal of the injunction. ZTE had petitioned the court to require Vringo to pay a EUR 40 million bond to enforce the injunction, an amount it claimed was a more accurate reflection of the damages that ZTE claims to be currently suffering in Romania. The court, in a final decision that may not be appealed, rejected ZTE's claim as inadmissible. The injunction remains in place pending trial on the merits. The bond, which Vringo must pay to continue to enforce the injunction as per the court's earlier order, remains set at EUR 240,000. The injunction, 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, was originally granted by the court on July 1, 2015. ZTE subsequently filed an appeal of the injunction, which was rejected by the court on January 8, 2015. As part of its enforcement of the injunction, Vringo has provided notice to vendors of ZTE handsets and infrastructure equipment in Romania, informing the vendors that the court has ordered them to cease all sales of ZTE 4G/LTE products in Romania. ZTE has previously stated that this injunction would result in losses of over EUR 30 million to ZTE as a result of breaching its contracts with telecom providers Cosmote Romania and Deutsche Telekom AG. ZTE is legally forbidden from delivering equipment found by the court to prima facie infringe the patent-in-suit to these providers. Vringo has provided notice of the injunction to both Cosmote Romania and Deutsche Telekom AG.

Vringo, Inc. Provides Update on UK Litigation

Vringo, Inc. announced that the High Court of Justice, Chancery Division, Patents Court in the United Kingdom ordered ZTE to make an interim payment on account of Vringo's legal costs incurred with respect to the UK part of Vringo's European Patent 1,212,919, previously found to be infringed by ZTE and valid as amended. The Court ordered ZTE to pay Vringo £600,000 (approximately $938,000) after taking into account a balancing payment to ZTE with respect to Vringo's withdrawal of another patent from litigation, by January 12, 2015. ZTE's obligation to pay for Vringo's remaining costs with respect to the '919 Patent will be assessed by a separate process, unless agreed, to be conducted next year.

Vringo, Inc. Announces Transition of the Role of Alexander R. Berger from Chief Operating Officer and Director to Consultant

Vringo, Inc. announced that the company has entered into a consulting agreement with Alexander R. Berger, who will transition from the role of Chief Operating Officer and director to a consultant to the company. Mr. Berger will remain a member of boards of directors of certain Vringo subsidiaries.


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