InterDigital Inc (IDCC): Vringo Shares Surge After U.K. Ruling in...

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Friday, 11/28/2014 2:24:00 PM

Friday, November 28, 2014 2:24:00 PM

Vringo Shares Surge After U.K. Ruling in ZTE Patent Lawsuit:

http://www.bloomberg.com/news/2014-11-28/vringo-shares-surge-after-u-k-ruling-in-zte-patent-lawsuit.html?cmpid=yhoo

Vringo Inc. (VRNG) rose as much as 25 percent after winning the first of a series of patent lawsuits against ZTE Corp. (000063) over essential mobile communications technology.

London Judge Colin Birss said Vringo’s U.K. patent had been infringed by ZTE, and ordered that another court hearing be scheduled to deal with the consequences of the ruling. Vringo shares were up 13 percent at 10:50 a.m. in New York trading.

Vringo, a New York-based patent licensing firm, has also been involved in legal disputes with Google Inc. (GOOG) in the U.S. ZTE argued that Vringo are “patent trolls,” Birss said in the written decision.

“This trial is the first of a series of patent trials scheduled to be heard in the patents court between these parties in the next year or so,” Birss said.

https://finance.yahoo.com/echarts?s=VRNG+Interactive#