Any VRNG Long That Doesn't Get Goosebumps From Reading This
You better go get a physical to make sure you're still breathing.
12:35PM Vringo confirms ruling in I/P Enging litigation: I/P Engine entitled to an award of a post-judgment royalty (VRNG) 3.38 +0.12 : Co announced the District Court has issued a ruling on its wholly-owned subsidiary I/P Engine, Inc.'s Motion for an Award of Post-Judgment Royalties in its litigation against AOL, Inc., Google, Inc., IAC Search & Media, Inc., Gannett Company, Inc., and Target Corporation (collectively, "Defendants"). In the Order, the District Court found that I/P Engine is entitled to an award of a post-judgment royalty, and that additional discovery and briefing is necessary to determine the precise amount of the royalty. The District Court noted that at trial, I/P Engine introduced expert testimony that starting in the Fourth Quarter of 2007, the infringing components of Google's SmartAds system added 20.9% to Google's U.S. AdWords revenue and additional evidence is in the record to support this position. While Defendants continue to contest the use of this royalty base, the Court noted that it will not re-litigate this question, and held that it will apply the 20.9% royalty base to determine the proper ongoing royalty. The District Court ordered Defendants to pay the ongoing royalty to I/P Engine on a quarterly basis by wire transfer or other certified means of receipt, and certify by penalty of perjury the U.S. revenue attributable to Defendants' use of AdWords in U.S. Dollars and the calculation of the royalty payment.
Once again :Defendants continue to contest the use of this royalty base, the Court noted that it will not re-litigate this question, and held that it will apply the 20.9% royalty base to determine the proper ongoing royalty.