Vringo Shares Surge After U.K. Ruling in ZTE Patent LawsuitKit Chellel
Vringo Inc. rose as much as 25 percent after winning the first of a series of patent lawsuits against ZTE Corp. over essential mobile communications technology.
London Judge Colin Birss said Vringo’s U.K. patent had been infringed by ZTE, and ordered that another court hearing be scheduled to deal with the consequences of the ruling. Vringo shares were up 13 percent at 10:50 a.m. in New York trading.
Vringo, a New York-based patent licensing firm, has also been involved in legal disputes with Google Inc. in the U.S. ZTE argued that Vringo are “patent trolls,” Birss said in the written decision.
“This trial is the first of a series of patent trials scheduled to be heard in the patents court between these parties in the next year or so,” Birss said.
Shen Jianfeng, chief IPR Officer of ZTE, said the China-based technology firm’s customers in the U.K. wouldn’t be affected as no products using the so-called 919 patent are shipped to the country. The company said that the equivalent patent has been invalidated in China.
The holders of essential patents, vital for mobile phone networks, can license the technology to other companies in return for royalty fees.
The case is Vringo v. ZTE, High Court of Justice Chancery Division Case #: HC12D03895
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