Vringo (VRNG) Lower on Google Settlement Confusion
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Shares of Vringo, Inc. (NASDAQ: VRNG) are lower after-hours Wednesday, which appears to be related to confusion that the CEO said there was "no settlement" with Google (NASDAQ: GOOG). However, it appears that these are old comments and taken out of context. The Reuters story being quoted doesn't specifically address the latest in the still ongoing Google settlement talks, which is the most important catalyst for the stock.
Just yesterday, the court ordered Google to produce more detailed information related to its U.S. revenue and today a new Judge was appointed.
A decision on a settlement is expected soon. However, this is not it.
The case is expected to go to trial on 10/16 at 10AM ET if no settlement is reached before then.
Shares of VRNG last traded at $4.57, down 2.14 percent.
Just yesterday, the court ordered Google to produce more detailed information related to its U.S. revenue and today a new Judge was appointed.
A decision on a settlement is expected soon. However, this is not it.
The case is expected to go to trial on 10/16 at 10AM ET if no settlement is reached before then.
Shares of VRNG last traded at $4.57, down 2.14 percent.
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