Vringo (VRNG) Keeps Running Higher on Summary Judgment Call (GOOG)
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Vringo, Inc. (AMEX: VRNG) is the stock we all wish we could be. (Save for Apple, obviously.)
After getting a favorable ruling on Wednesday, sending shares vastly higher, the momentum carried over into Thursday, and shares are higher again Friday morning.
Over the last three sessions, Vringo shares have moved 70 percent higher to $5.25 at Thursday's close.
In a statement, US District Judge Raymond Jackson said Wednesday that summary judgment in Vringo's patent litigation with Google (Nasdaq: GOOG) is "inappropriate" and was denied. He ordered the two parties to engage in discussions.
The call might play out well with other companies that Vringo is in litigation with, which include AOL (NYSE: AOL), IAC/InterActive (Nasdaq: IACI), and others.
Ahead of the bell, Vringo is indicated about 4 percent higher.
After getting a favorable ruling on Wednesday, sending shares vastly higher, the momentum carried over into Thursday, and shares are higher again Friday morning.
Over the last three sessions, Vringo shares have moved 70 percent higher to $5.25 at Thursday's close.
In a statement, US District Judge Raymond Jackson said Wednesday that summary judgment in Vringo's patent litigation with Google (Nasdaq: GOOG) is "inappropriate" and was denied. He ordered the two parties to engage in discussions.
The call might play out well with other companies that Vringo is in litigation with, which include AOL (NYSE: AOL), IAC/InterActive (Nasdaq: IACI), and others.
Ahead of the bell, Vringo is indicated about 4 percent higher.
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