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VRNG declines heavily on positive German patent court news--anyone know why?
http://www.vringoip.com/cgi-bin/news.pl
VRINGO ANNOUNCES FAVORABLE RULING REGARDING PATENT VALIDITY IN GERMAN PATENTS COURT
Validity Upheld on Amended 3G Infrastructure Claims

NEW YORK - July 6, 2015 - Vringo, Inc. (NASDAQ: VRNG), a company engaged in the innovation, development and monetization of intellectual property, today announced that the German Patents Court has issued a ruling on the validity of the German part of European Patent 1,212,919 (the "'919 Patent"), owned by Vringo's wholly-owned subsidiary Vringo Infrastructure, Inc.

The Court, following a hearing held on March 4, 2015, held that the '919 Patent claims that read on handover between radio network controllers, a key part of 3G infrastructure technology, were held valid as amended.

Vringo's infringement claims against ZTE on the '919 Patent alleging infringement of ZTE's 3G and 4G infrastructure equipment are pending before the Düsseldorf Regional Court, where they are scheduled to be heard on February 25, 2016. In Germany, damages are calculable from one month after the publication of the grant of the patent, which, in the case of the '919 Patent, was October 8, 2010. ZTE entered the European market in 2002 and has had a substantial presence in Germany for many years.

"We are pleased with the claims that were held valid by the German Patents Court and look forward to the hearing on infringement of these claims in the first quarter of next year," said David Cohen, Vringo's Chief Legal and Intellectual Property Officer.

The '919 Patent is the German counterpart of the patent previously found by the High Court of Justice, Chancery Division, Patents Court in the United Kingdom to be infringed by ZTE and valid as amended. In the UK ZTE has forfeited its right to appeal. The '919 Patent is also the German counterpart of the patent found, prima facie, infringed by ZTE in Brazil, where the Court of Justice of Rio de Janeiro has issued an ex-parte preliminary injunction against ZTE, which remains in place pending trial on the merits. To date ZTE has attempted to have the injunction in Brazil lifted seven times, all of their attempts have been rejected by numerous courts.

About Vringo, Inc.

Vringo, Inc. is engaged in the innovation, development and monetization of intellectual property and mobile technologies. Vringo's intellectual property portfolio consists of over 600 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. For more information, visit:www.vringo.com.