Vringo (VRNG) Announces Facebook Agreement on Facetones
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Vringo, Inc. (Nasdaq: VRNG) entered into an agreement with Facebook, Inc. (NYSE: FB) (Nasdaq: FB) relating to the use of the Company's Facetones mark and domain name. Shares were halted.
Prior to the Agreement, the parties had a potential dispute regarding the Facetones Mark. By entering into the Agreement, the parties' potential dispute has been favorably resolved to the satisfaction of both parties. The Agreement clarifies Vringo’s permitted use of the Facetones Mark including making certain changes to its U.S. trademark application to clarify the description of the Facetones service and agreeing to certain limitations on its use of the Facetones Mark.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the Agreement, which will be filed, with any confidential terms redacted, with the Securities and Exchange Commission as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending March 31, 2012.
Prior to the Agreement, the parties had a potential dispute regarding the Facetones Mark. By entering into the Agreement, the parties' potential dispute has been favorably resolved to the satisfaction of both parties. The Agreement clarifies Vringo’s permitted use of the Facetones Mark including making certain changes to its U.S. trademark application to clarify the description of the Facetones service and agreeing to certain limitations on its use of the Facetones Mark.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the Agreement, which will be filed, with any confidential terms redacted, with the Securities and Exchange Commission as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending March 31, 2012.
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