|[November 15, 2012]
Vringo Files Lawsuit against ZTE in Germany
NEW YORK --(Business Wire)--
Vringo (News - Alert), Inc. (NYSE MKT: VRNG), a company engaged in the innovation,
development and monetization of mobile technologies and intellectual
property, today announced that its wholly-owned subsidiary, Vringo
Germany GmbH, filed a patent infringement lawsuit against the ZTE (News - Alert) Corp,
China and its German subsidiary, ZTE Deutschland GmbH (ZTE). ZTE
describes itself as "a leading global provider of telecommunications
equipment and network solutions," with recently reported annual revenue
of US $13.7 billion (RMB 86.254 billion), according to filings with the
Hong Kong Stock Exchange. According to ZTE's public filings, the company
generates its revenue primarily from the sale of telecommunications
equipment and handsets.
"The filing of this action in Germany is the next step in Vringo's
global licensing and enforcement program in the telecommunications
sector. ZTE has elected not to take a license to patents in Vringo's
portfolio relevant to certain international standards, despite
manufacturing and selling devices and equipment for a number of years
that are said by ZTE to be compliant with those standards," said David
L. Cohen, Head of Licensing, Litigation, and Intellectual Property at
Vringo. "We believe that ZTE is aware that it requires licenses to all
patents that are essential to relevant standards. Further, we believe
that ZTE is familiar with systems for declaring patents to
standards-setting organizations and the relevant intellectual property
rights policies for those organizations, having itself declared hundreds
of patents to international standards."
The lawsuit, filed in the District Court of Mannheim, alleges
infringement of the German part of European Patent 1,212,919.
Declarations have been filed at the European Telecommunications and
Stadards Institute (ETSI (News - Alert)) that cover the patent. ZTE's accused devices
are believed to fall within the scope of the patent. Vringo's complaint
brief is to be served on ZTE.
According to the complaint, Vringo is seeking injunctive relief,
rendering of accounts, recall and destruction of allegedly infringing
products as well as damages.
"As we have said before, ZTE's liability will continue to increase as
long as the issue remains unresolved. We hope that ZTE will work with us
to resolve this matter in a positive and productive manner," said
Alexander R. Berger, Chief Operating Officer at Vringo.
About Vringo, Inc.
Vringo, Inc. is engaged in the innovation, development and monetization
of mobile technologies and intellectual property. 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. Vringo operates a global
platform for the distribution of mobile social applications and services
including Facetones® and Video Ringtones which transform the basic act
of making and receiving mobile phone calls into a highly visual, social
experience. For more information, visit: www.vringoIP.com.
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: the inability to realize the potential value created by the merger
with Innovate/Protect for our stockholders; our inability to raise
additional capital to fund our combined operations and business plan;
our inability to monetize and recoup our investment with respect to
patent assets that we acquire; our inability to maintain the listing of
our securities on the NYSE MKT; the potential lack of market acceptance
of our products; our inability to protect our intellectual property
rights; potential competition from other providers and products; our
inability to license and monetize the patents owned by Innovate/Protect,
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; and other risks and
uncertainties and other factors discussed from time to time in our
filings with the Securities and Exchange Commission ("SEC (News - Alert)"), including
our quarterly report on Form 10-Q filed with the SEC on November 14,
2012. 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.
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