Vringo (VRNG) Settlement Hopes Dashed as Google (GOOG) Digs In
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Price: $1.97 --0%
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 17
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 17
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Investors hoping Google (NASDAQ: GOOG) would bow down to tiny Vringo, Inc. (NYSE: VRNG) and settle the important I/P Engine patent infringement case should be on alert that Google is digging in their heels and preparing for war when the case goes to trial on Tuesday.
Any chance of a weekend settlement appears hopeless, according to sources. There are over 100 exhibits waiting for trial to start on Tuesday, and sources say that this suggests a settlement is unlikely.
Shares of Vringo are up 51 percent since October 2, when a judge ordered settlement talks between the parties, on hopes of a quick and lucrative settlement with the search engine giant. However, those talks proved fruitless and now the case will go to trial.
All is not lost however. Investors need to realize that Google is in a tough spot. They realize that if they settle with Vringo it will open the door for more patent cases. One possible way for Google to save face is to simply buy Vringo and add the patents to its treasure trove. Once the trial starts, Google may be able to better assess what they're up against.
Vringo is looking for about $696 million plus interest for historical licensing and could be asking for another $700 million for future royalties.
The case is expected to go to jury trial on 10/16 at 10AM ET.
Shares of Vringo are down 1.9 percent to $4.68.
Any chance of a weekend settlement appears hopeless, according to sources. There are over 100 exhibits waiting for trial to start on Tuesday, and sources say that this suggests a settlement is unlikely.
Shares of Vringo are up 51 percent since October 2, when a judge ordered settlement talks between the parties, on hopes of a quick and lucrative settlement with the search engine giant. However, those talks proved fruitless and now the case will go to trial.
All is not lost however. Investors need to realize that Google is in a tough spot. They realize that if they settle with Vringo it will open the door for more patent cases. One possible way for Google to save face is to simply buy Vringo and add the patents to its treasure trove. Once the trial starts, Google may be able to better assess what they're up against.
Vringo is looking for about $696 million plus interest for historical licensing and could be asking for another $700 million for future royalties.
The case is expected to go to jury trial on 10/16 at 10AM ET.
Shares of Vringo are down 1.9 percent to $4.68.
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