Vringo, Inc.

$VRNG - AMEX - Software and Technology Services
ON 25



Press Release $VRNG Vringo, Inc.

0 COMMENTs 16 Dec
Up 0 0 Down

   ZTE Ordered To Pay Bond of 50 Million Rupees and To Provide Accounting of
                    Infringing Products for Past and Future

NEW YORK - December 16, 2013 - Vringo, Inc. (NASDAQ: VRNG), a company engaged in
the innovation, development and monetization of intellectual property and mobile
technologies,  today announced  that the  High Court  of Delhi  at New Delhi has
ordered an expedited trial in Vringo's lawsuit against ZTE.

According to the Court's order:

The  trial shall  be completed  within six  months from  the first  day when the
matter  is listed  before the  local commissioner.  The learned Single Judge may
take-up the matter after completion of trial on an expedited basis.

The order follows the High Court's grant of an ex-parte ad-interim injunction on
November   8, 2013, restraining  ZTE  from  manufacturing,  importing,  selling,
offering  for sale, using, advertising  (either directly or indirectly including
through  third party  websites) infringing  products, including mobile handsets,
dongles,  tablets,  and  infrastructure  equipment  compliant  with the CDMA2000
technology  associated with India Patent  No. 243,980, owned by Vringo's wholly-
owned subsidiary, Vringo Infrastructure, Inc.

Vringo  filed a suit against ZTE Telecom India Private Limited, ZTE Corporation,
and  Xu Dejun, Chief Executive Officer of  ZTE Telecom India Private Limited, in
the  High Court of Delhi at New  Delhi on November 7, 2013.  The lawsuit alleges
infringement  of the  '980 patent,  titled "Mobile  Station Operable  with Radio
Access  Network and a Packet  Data Serving Node and  a Method for Operating Such
Mobile Station."

In  preparation for the expedited hearing, the High Court has set a schedule for
pleadings  and discovery and has appointed a commissioner to oversee the process
of  recording of evidence at  the trial stage. Following  a hearing, on December
12, 2013, the  High Court passed a  consent order ordering ZTE  to pay a bond of
50 million  rupees (approximately  $800,000 USD)  in place  of the  ex-parte ad-
interim  injunction.   Further,  ZTE  Corporation  and ZTE Telecom India Private
Limited  are required to file an affidavit  of one of their Directors disclosing
the  number of CDMA devices  sold by the ZTE  entities in India and the revenues
earned  from such sales,  along with appropriate  documents such as invoices and
bills  of entry supporting the same for both past and future periods.  The Court
permitted  Vringo to seek  additional relief upon  its review of  the quantum of
ZTE's  sales pursuant to the foregoing  disclosure.   The Court further directed
that  the Indian Customs authorities continue to notify Vringo when all relevant
ZTE  goods are imported  into India and  give Vringo the  opportunity to inspect
such goods.

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 500 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.

Forward-Looking Statements

This  press release includes forward-looking statements, which may be identified
by  words such as "believes," "expects," "anticipates," "estimates," "projects,"
"intends,"  "should,"  "seeks,"  "future,"  "continue,"  or the negative of such
terms,   or   other   comparable  terminology.  Forward-looking  statements  are
statements  that are not historical  facts.  Such forward-looking statements are
subject  to risks and uncertainties, which  could cause actual results to differ
materially  from the forward-looking statements  contained herein.  Factors that
could cause actual results to differ materially include, but are not limited to:
our  inability to license and monetize our patents, including the outcome of the
litigation  against online  search firms  and other  companies; our inability to
monetize  and  recoup  our  investment  with  respect  to  patent assets that we
acquire;  our inability to develop and introduce new products and/or develop new
intellectual  property; new legislation, regulations or court rulings related to
enforcing   patents,  that  could  harm  our  business  and  operating  results;
unexpected trends in the mobile phone and telecom infrastructure industries; our
inability  to  raise  additional  capital  to  fund  our combined operations and
business  plan; our  inability to  maintain the  listing of  our securities on a
major  securities  exchange;  the  potential  lack  of  market acceptance of our
products;   potential  competition  from  other  providers  and  products;   our
inability  to retain  key members  of our  management team;  and other risks and
uncertainties  and other factors discussed from time to time in our filings with
the  Securities and Exchange Commission ("SEC"),  including our annual report on
Form  10-K filed with the SEC on March 21, 2013.  Vringo expressly disclaims any
obligation  to publicly update any  forward-looking statements contained herein,
whether  as a result of  new information, future events  or otherwise, except as
required by law.


Investors and Media:
Cliff Weinstein
Executive Vice President
Vringo, Inc.

This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
    other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
     originality of the information contained therein.

Source: Vringo, Inc. via GlobeNewswire

SHARE THIS: Twitter StockTwits LinkedIn Google Plus SHORT URL: http://bdvt.co/cNv1