ringo +12.9%; case data points to U.K. ZTE settlement
May 1 2015, 09:43 ET | By: Eric Jhonsa, SA News Editor Contact this editor with comments or a news tip
An online listing of the statuses of various U.K. lawsuits suggests Vringo (NASDAQ:VRNG) has settled its British infringement suit against ZTE. Vringo has jumped in response.Vringo stated a month ago it had filed a Statement of Case in the U.K. that "sets out terms for a FRAND license in the context of appropriate relief being determined" for a patent a local court had ruled ZTE to be infringing. Last December, ZTE was ordered to pay $938K in Vringo legal fees on account of having been ruled to infringe the U.K. part of a Vringo European patent.
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My 50% Upside Portfolio Update: Where Things Stand Now With EarningsMon, Apr 27Vringo posts 6.4% gain following ZTE breach of contract annnouncementWed, Apr 8Vringo's Brazilian injunction against ZTE upheldMon, Mar 23Vringo up 22% over last two daysTue, Mar 3Vringo +17.6%; motion to dissolve TRO granted in ZTE suitTue, Feb 10Vringo closes up 30.6% on ZTE settlement hopesMon, Feb 9Congress takes another stab at patent law reformSun, Feb 8Vringo reports favorable Romanian ZTE rulingWed, Feb 4It's A MARA-Thon, Not A Sprint In The Patent Monetization SpaceThu, Jan 29
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The market likes the expansion news, but the company has no money and is deep in debt. They have to raise money. The question is what will be the offering price and how much they are going to dilute. Hence the upward movement has no conviction. Correct me if I am wrong.
such insane volume and yet The Street has offered no opinion, as they usually do, with a sell rating for any company that has been losing money quarter after quarter. Hummm, interesting. Or they already know...