|[December 04, 2012]
Vringo Provides Update on Lawsuit against ZTE in Germany
NEW YORK --(Business Wire)--
Vringo (News - Alert), Inc. (NYSE MKT: VRNG), a company engaged in the innovation,
development and monetization of mobile technologies and intellectual
property, today provided an update on its wholly-owned subsidiary,
Vringo Germany GmbH's patent infringement lawsuit filed against ZTE (News - Alert)
Corp., China and its German subsidiary, ZTE Deutschland GmbH ("ZTE").
On November 16th, the German court provided notice to counsel for Vringo
that the court commenced the process of serving ZTE. In accordance with
the court's standard procedure, ZTE has two weeks from service to
appoint an attorney and announce that it will defend against the claims
brought forward by Vringo. ZTE will then have six additional weeks in
which to file a reply to Vringo's complaint.
Andrew Perlman, Chief Executive Officer at Vringo said, "We are pleased
to see our case in Germany moving along quickly as we anticipated. We
are confident in the foundational nature of our Telecom Infrastructure
patent portfolio and intend to pursue additional enforcement actions
when infringing companies choose not to take a license."
The lawsuit, filed in District Court Mannheim, alleges infringement of
European Patent 1,212,919. According to the complaint, Vringo is seeking
injunctive relief, rendering of accounts, recall and destruction of
allegedly infringing products, and monetary damages. Declarations have
been filed at the European Telecommunications and Standards Institute
(ETSI (News - Alert)) that cover the patent-in-suit.
The case will be heard by the Second Chamber of the Mannheim Court
presided by Judge Dr. Kircher. The reporting judge will be Judge
Böttcher. The docket number assigned to Vringo's ase is "2 O 275/12".
ZTE describes itself as "a leading global provider of telecommunications
equipment and network solutions," with recently reported annual revenue
of US $13.7 billion (RMB 86.254 billion), according to filings with the
Hong Kong Stock Exchange. According to ZTE's public filings, the company
generates its revenue primarily from the sale of telecommunications
equipment and handsets.
About Vringo, Inc.
Vringo, Inc. is engaged in the innovation, development and monetization
of mobile technologies and intellectual property. Vringo's intellectual
property portfolio consists of over 500 patents and patent applications
covering telecom infrastructure, internet search, and mobile
technologies. The patents and patent applications have been developed
internally, and acquired from third parties. Vringo operates a global
platform for the distribution of mobile social applications and services
including Facetones® and Video Ringtones which transform the basic act
of making and receiving mobile phone calls into a highly visual, social
experience. For more information, visit: www.vringoIP.com.
This press release includes forward-looking statements, which may be
identified by words such as "believes," "expects," "anticipates,"
"estimates," "projects," "intends," "should," "seeks," "future,"
"continue," or the negative of such terms, or other comparable
terminology. Forward-looking statements are statements that are not
historical facts. Such forward-looking statements are subject to risks
and uncertainties, which could cause actual results to differ materially
from the forward-looking statements contained herein. Factors that could
cause actual results to differ materially include, but are not limited
to: the inability to realize the potential value created by the merger
with Innovate/Protect for our stockholders; our inability to raise
additional capital to fund our combined operations and business plan;
our inability to monetize and recoup our investment with respect to
patent assets that we acquire; our inability to maintain the listing of
our securities on the NYSE MKT; the potential lack of market acceptance
of our products; our inability to protect our intellectual property
rights; potential competition from other providers and products; our
inability to license and monetize the patents owned by Innovate/Protect,
including the outcome of the litigation against online search firms and
other companies; our inability to monetize and recoup our investment
with respect to patent assets that we acquire; and other risks and
uncertainties and other factors discussed from time to time in our
filings with the Securities and Exchange Commission ("SEC (News - Alert)"), including
our quarterly report on Form 10-Q filed with the SEC on November 14,
2012. Vringo expressly disclaims any obligation to publicly update any
forward-looking statements contained herein, whether as a result of new
information, future events or otherwise, except as required by law.
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