Vringo (VRNG) Volatile Ahead of Google (GOOG) Settlement

Vringo Issues Investor Update

NEW YORK--(BUSINESS WIRE)-- Vringo, Inc. (NYSE MKT: VRNG), a company engaged in the innovation, development and monetization of mobile technologies and intellectual property, today issued an update for investors.

Clifford Weinstein, Executive Vice President of Vringo said, "We take this opportunity to update the market on our current litigation and offer some further details on the wireless infrastructure portfolio we recently acquired from Nokia. With respect to the Nokia portfolio, we plan on taking action shortly through licensing and litigation campaigns."

Current Litigation: I/P Engine v. AOL, Google et al.

Vringo's wholly-owned subsidiary I/P Engine's case against Google, AOL, IAC, Target and Gannett is scheduled for a jury trial beginning October 16th in U.S. District Court in the Eastern District of Virginia, Norfolk Division. The patents-in-suit were originally acquired from Lycos, Inc.

On July 27, 2012, the parties exchanged expert reports on the issues for which the party has the burden of proof. I/P Engine provided defendants its expert reports on infringement and damages, and the defendants provided their expert report on invalidity, which happens in virtually all patent litigations.

The parties are exchanging rebuttal expert reports this week. Certain reports have been designated by the parties as confidential subject to the Protective Order entered by the Court on January 23, 2012 because they contain highly confidential business information. A copy of the Protective Order can be found on the public docket on Pacer... More