Reporters at the U.S. federal district court for Norfolk, Va are gathering information on what appears to be favourable settlement for patents firms Vringo Inc. (NYSEAMEX:VRNG) in its case against internet giant Google Inc. (NASDAQ:GOOG). The terms of settlement have still not been made public with press conference expected at close of discussions this afternoon.
These discussions come after a U.S. court last Friday refused an appeal by Google to dismiss the patent lawsuit filed by Vringo. The court ordered settlement discussions take place with Google, AOL, and Target prior to any trial proceedings.
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