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VRNG Stock – Vringo Shares Skyrocket on Google Court Decision

Shares are up over 20% on Wednesday

Jan 22, 2014, 1:09 pm EST | By Karl Utermohlen, InvestorPlace Writer




The court in charge of Vringo’s (VRNG) patent suit against Google (GOOG) has ruled in favor of the software development company.

vrngVRNG stock is up over 20% Wednesday following the U.S. District Court in Eastern Virginia’s ruling regarding Google’s AdWords. The court issued a Memorandum Opinion and Order related to its subsidiary I/P Engine’s patent litigation against Google.

The court said that Google’s AdWords has a design that’s “nothing more than a colorable variation of the system adjudged to infringe.” Additionally, I/P Engine “is entitled to ongoing royalties as long as Defendants continue to use the modified system.”

The royalty rate will be determined after a settlement conference scheduled Wednesday.

VRNG stock is up 22% in early trading Wednesday. Meanwhile, GOOG stock posted meager losses.
http://investorplace.com/2014/01/vrng-stock-vringo-google/#.UuEJWq8o6Uk