Vringo bounces as insiders buy following Google ruling
Vringo (VRNG +20.8%) director Joseph Spiegel bought 30K shares on Friday at $0.89, after Vringo cratered in response to an appeals court's ruling on its infringement suit against Google. CFO Anastasia Nyrkovskaya bought 16K shares today at $0.91.
Shares still -66% from Thursday's close. SA author Alexander Maxwell argues Vringo's "most likely recourse" following the Google ruling is to request an en banc hearing, which requires all of the judges on the appeals court to rule on the suit. He suspects Justice Raymond Chen, who dissented from the ruling, will "push hard" for an en banc hearing behind closed doors.
Should the hearing request be denied, Vringo could appeal to the Supreme Court. But as Maxwell observes, the high court only takes up a small fraction of the thousands of cases appealed to it each year.
The most important thing in communication is to hear what isn't being said.
~Peter Drucker
