VRNG 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.