Bli medlem
Bli medlem

Du är här

2015-04-08

Vringo, Inc.: ZTE FOUND IN BREACH OF CONTRACT

United States District Court Finds That ZTE Breached Non-Disclosure Agreement
Entered Into With Vringo

Vringo Provides Additional Updates Regarding Litigation in France, Brazil, and
China

NEW YORK - April 8, 2015 - Vringo, Inc. (NASDAQ: VRNG), a company engaged in
the innovation, development and monetization of intellectual property, today
announced that the United States District Court for the Southern District of
New York has ruled that ZTE violated the non-disclosure agreement ("NDA")
with Vringo that formed the original basis for Vringo's claim against ZTE in
the United States.

In an order released April 6, 2015, Judge Lewis A. Kaplan granted Vringo's
motion for judgment on the pleadings with respect to the question of whether
or not ZTE breached the NDA entered into by the parties.

On April 7, 2015, the Court held a Status Conference. Following the Status
Conference, the Court granted Vringo's requests to consolidate the NDA case
and the FRAND case for the purposes of pretrial discovery, to extend the
deadline for fact discovery, to set a deadline for the filing of dispositive
motions, and to seal the unredacted version of Vringo's Motion to Compel.

In France, trial on ZTE's alleged infringement of two of Vringo's European
patents is scheduled to take place on April 13, 2015. One of the patents in
suit has already been found infringed by ZTE at trial in Germany, where an
injunction against ZTE remains in place, and, on a preliminary basis, in the
Netherlands.

In Brazil, Court-appointed experts are finalizing reports, which Vringo
believes will demonstrate ZTE's flagrant disregard for the Court's order
enjoining ZTE from manufacturing, using, offering for sale, selling,
installing, testing, or importing any 3G, 4G, and LTE infrastructure
equipment in Brazil. Vringo expects these reports will be submitted to the
Court imminently.

In China, re-examinations against Vringo's Chinese patents, filed by ZTE,
continue to be heard before the Patent Re-Examination Board of the State
Intellectual Property Office of the People's Republic of China on a rolling
basis. ZTE has sought to invalidate 33 of Vringo's Chinese patents. Despite
ZTE's irregular activity, described below, to date 14 patents have been
maintained valid, 9 have been found invalid, and are pending appeal, and 2
have been found valid-in-part. In a number of cases, ZTE has withdrawn its
re-examination requests just before the Patent Re-Examination Board was to
maintain the validity of the patents in those cases, later re-filing the
requests. These second requests could result in the appointment of a new
review panel, which would consider anew ZTE's previously unsuccessful
arguments. To date, Vringo has not filed any actions for patent infringement
against ZTE in China.

Background

On July 2, 2014, Vringo filed a lawsuit against ZTE in the United States
District Court for the Southern District of New York, seeking a temporary
restraining order and preliminary and permanent injunctions against ZTE,
enjoining ZTE's use of prohibited materials captured under an NDA entered
into with Vringo, including but not limited to ZTE's use of such materials in
its anti-monopoly lawsuit in China against Vringo. On July 7, 2014, the Court
granted a temporary restraining order against ZTE's use of such material. On
July 23, 2014, ZTE filed a counterclaim against Vringo. On July 24, 2014, the
Court held a hearing on Vringo's motion for a preliminary injunction against
ZTE, which remains pending. The temporary restraining order remains in place
pending the Court's determination of the motion for preliminary injunction.
On October 2, 2014, Vringo filed a motion for judgment on the pleadings,
similar to a motion for summary judgment, asking the court to render a
judgment on Vringo's breach of contract claim based solely on the pleadings
of the parties.

On February 10, 2015, the United States District Court for the District of
Delaware ordered a case improperly brought by ZTE against Vringo, alleging
breach of contract, transferred to the United States District Court for the
Southern District of New York, to be consolidated, for at least the purposes
of discovery, with the existing litigation in the latter court. On February
27, 2015, Vringo filed an Amended Answer and Counterclaim to ZTE's complaint.
Among other claims made against ZTE, Vringo seeks a final determination on a
global FRAND license for ZTE's use of Vringo's standard-essential patents.

On April 6, 2015, the Court granted Vringo's motion for judgment on the
pleadings in part, finding that ZTE breached the NDA between the parties. The
Court dismissed Vringo's unfair competition claim against ZTE, but denied
ZTE's motion to dismiss Vringo's claims against ZTE for fraudulent inducement
and breach of the covenant of good faith and fair dealing.

About Vringo, Inc.

Vringo, Inc. is engaged in the innovation, development and monetization of
intellectual property and mobile technologies. Vringo's intellectual
property portfolio consists of over 600 patents and patent applications
covering telecom infrastructure, internet search, and mobile technologies.
The patents and patent applications have been developed internally, and
acquired from third parties. For more information, visit:www.vringo.com.

Forward-Looking Statements

This press release includes forward-looking statements, which may be
identified by words such as "believes," "expects," "anticipates,"
"estimates," "projects," "intends," "should," "seeks," "future," "continue,"
or the negative of such terms, or other comparable terminology.
Forward-looking statements are statements that are not historical facts.
Such forward-looking statements are subject to risks and uncertainties, which
could cause actual results to differ materially from the forward-looking
statements contained herein. Factors that could cause actual results to
differ materially include, but are not limited to: our inability to license
and monetize our patents, including the outcome of the litigation against
online search firms and other companies; our inability to monetize and recoup
our investment with respect to patent assets that we acquire; our inability
to develop and introduce new products and/or develop new intellectual
property; our inability to protect our intellectual property rights; new
legislation, regulations or court rulings related to enforcing patents, that
could harm our business and operating results; unexpected trends in the
mobile phone and telecom infrastructure industries; our inability to raise
additional capital to fund our combined operations and business plan; our
inability to maintain the listing of our securities on a major securities
exchange; the potential lack of market acceptance of our products; potential
competition from other providers and products; our inability to retain key
members of our management team; the future success of Infomedia and our
ability to receive value from its stock; our ability to continue as a going
concern; our liquidity and other risks and uncertainties and other factors
discussed from time to time in our filings with the Securities and Exchange
Commission ("SEC"), including our annual report on Form 10-K filed with the
SEC on March 16, 2015. Vringo expressly disclaims any obligation to publicly
update any forward-looking statements contained herein, whether as a result
of new information, future events or otherwise, except as required by law.

Contacts:

Investors and Media:
Cliff Weinstein
Executive Vice President
Vringo, Inc.
646-532-6777
cweinstein@vringoinc.com

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vringo, Inc. via Globenewswire

HUG#1909460

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.