Vringo (VRNG) Should Thank Nokia (NOK) for the ZTE Lawsuit
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Vringo (AMEX: VRNG) is notably higher on the session Monday following an upgrade at Maxim earlier as well as a new -- but expected -- complaint filed against a ZTE Corp. unit.
Lower on the session is Nokia (NYSE: NOK). The patents in question for the ZTE litigation were part of the 500 patent portfolio Vringo acquired from Nokia in August in a $22 million transaction.
The EU registered patents include: 1,212,919 (Relocation in a communication system); 1,166,589 (Rotating synchronization channel transmission); and 1,808,029 Inter-system hand-over of a mobile terminal operable with a first and second radio access network).
For more on the litigation, click here.
Nokia retains a license for the patents in its own devices, but its not clear why Vringo decided to file the lawsuit while Nokia opted-out of such a procedure.
Vringo is about 16 percent higher while Nokia is down nearly one percent.
Lower on the session is Nokia (NYSE: NOK). The patents in question for the ZTE litigation were part of the 500 patent portfolio Vringo acquired from Nokia in August in a $22 million transaction.
The EU registered patents include: 1,212,919 (Relocation in a communication system); 1,166,589 (Rotating synchronization channel transmission); and 1,808,029 Inter-system hand-over of a mobile terminal operable with a first and second radio access network).
For more on the litigation, click here.
Nokia retains a license for the patents in its own devices, but its not clear why Vringo decided to file the lawsuit while Nokia opted-out of such a procedure.
Vringo is about 16 percent higher while Nokia is down nearly one percent.
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