Vringo had filed to oppose this consolidation of the GOOG appeals. Vringo will not oppose this reversal they will love it.
I have not read this yet? If it's true this is fantastic news! This is a major speed up to to any GOOG Appeal. We therefore get paid much faster.
My guess would be a minimum of $30.00 to $60 a share. It will depend on the multiple given to the income stream achieved in 5 years?
Vringo, Inc. (NASDAQ: VRNG [FREE Stock Trend Analysis]), a company engaged in the innovation, development and monetization of mobile technologies and intellectual property, today provided an update on proceedings at the U.S. Patent and Trademark Office (USPTO) regarding patents owned by its wholly owned subsidiary, I/P Engine, Inc.
Today, the USPTO issued a first, non-final rejection of the challenged claims in U.S. Patent No. 6,314,420, which is one of the two patents asserted in litigation against Google, as described below.
This result is not unlike the previous three proceedings that Google initiated, which were ultimately resolved in I/P Engine's favor following I/P Engine's submission of rebuttal responses and meetings with the Examiners.