VRNG Stock – Vringo Shares Skyrocket Almost 30%

by Karl Utermohlen | January 29, 2014 2:59 pm

Vringo (VRNG[1]) had a massive victory against Google (GOOG[2]) which sent VRNG stock skyrocketing on Wednesday.

VRNG stock[3]A judge ruled in favor[4] of the small patent company which had a patent dispute with Google, AOL (AOL[5]), IAC/InterActiveCorp (IACI[6]), Gannett (GCI[7]) and Target (TGT[8]). Vringo sued these companies, alleging infringement of two of its advertising patents which the companies used to place advertisements on their Internet-search results.

Back in November 2012, the patent company won the case against Google but a judge determined that Google’s new advertising system continued to infringe Vringo’s patent. As a result, the judge raised the royalty rate from 3.5% to 6.5%.

The royalties that Vringo will receive from these companies could bring the company’s value up to $1 billion. VRNG stock is up 26% Wednesday.

  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. ruled in favor: http://stream.wsj.com/story/latest-headlines/SS-2-63399/SS-2-439958/
  5. AOL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AOL
  6. IACI: http://studio-5.financialcontent.com/investplace/quote?Symbol=IACI
  7. GCI: http://studio-5.financialcontent.com/investplace/quote?Symbol=GCI
  8. TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT

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