Vringo (VRNG) Surge Higher Related to Microsoft (MSFT) Settlement Talks

March 28, 2013 1:56 PM EDT
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The spike higher in Vringo, Inc. (NYSE: VRNG) is related to rumors of a settlement with Microsoft (Nasdaq: MSFT).

According to a letter from law firm Dickstein Shapiro dated March 27th:

"We represent I/P Engine, Inc. in the above-referenced case. This Court scheduled a pretrial conference to be held on Wednesday, April 10, 2013. I/P Engine has yet to serve the Complaint on Defendant 'Microsoft Corp. as the parties are discussing settlement. The deadline to serve the Complaint in this case is May 31, 2013. Accordingly, I/PEngine requests that this Court adjourn the scheduled pretrial conference for 60 days."

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