VRNG Stock – Vringo Shares Skyrocket on Google Court Decision

by Karl Utermohlen | January 22, 2014 1:09 pm

The court in charge of Vringo’s (VRNG[1]) patent suit against Google (GOOG[2]) has ruled in favor of the software development company.

vrng[3]VRNG stock is up over 20% Wednesday following the U.S. District Court in Eastern Virginia’s ruling[4] 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[5] 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.

  1. VRNG: http://studio-5.financialcontent.com/investplace/quote?Symbol=VRNG
  2. GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG
  3. [Image]: https://investorplace.com/wp-content/uploads/2012/10/Vringo.png
  4. ruling: http://online.wsj.com/article/HUG1756486.html
  5. has a design: http://www.businessweek.com/news/2014-01-22/vringo-wins-u-dot-s-dot-patent-ruling-on-google-s-modified-adwords-1

Source URL: https://investorplace.com/2014/01/vrng-stock-vringo-google/
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