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Stock Market & Financial Investment News

News Breaks
January 29, 2014
11:18 EDTVRNGVringo price target raised to $7 from $5 at Maxim
Maxim raised its price target for Vringo shares to $7 after the company received a 6.5% royalty rate from Judge Jackson, above the previous 3.5% rate.. The firm upped its net estimate of Google (GOOG) damages to $510M from $400M to reflect the new rate and keeps a Buy rating on Vringo.
News For VRNG From The Last 14 Days
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June 29, 2015
09:19 EDTVRNGVringo updates on ZTE litigation in Brazil, Romania
Vringo provided an update on enforcement actions in Brazil and Romania against ZTE, as well as an update in its SDNY litigation and corporate matters. In Brazil, on June 24, the reporting appellate judge denied ZTE's latest request to overturn the injunction, rejecting a new interlocutory appeal, which requested an ex parte preliminary injunction in order to, upon payment of a bond, lift the original injunction. In addition, the trial court which issued the original injunction against ZTE ordered both parties to file briefs regarding the report by a court-appointed expert on the raid conducted at ZTE's Headquarters in São Paulo, which confirmed that ZTE violated the injunction. Vringo filed a brief on June 24, requesting further enforcement measures to secure ZTE's compliance with the injunction, and asking the court to order ZTE to pay an accumulated daily fine of approximately $2.5M for ZTE's violation of the injunction. Vringo expects a decision by the 5th Business Trial Court of Rio de Janeiro shortly. On June 19, ZTE Romania's latest attempt, a motion to cancel the January 8 decision which confirmed the preliminary injunction granted to Vringo against ZTE Romania and others, alleging that the Court made a material error when issuing that decision, was denied by the Bucharest Court of Appeal. In addition, based on documents recently obtained by Vringo, Vringo is currently investigating whether ZTE Romania and its retailers have breached the preliminary injunction. Vringo is currently assessing the legal remedies available to cure any violation. On June 23, the United States District Court for the Southern District of New York granted Vringo's motions to de-designate ZTE's responses to discovery requests, including those that reference ZTE's communications with the National Resources Development Counsel of the People's Republic of China, as "Highly Confidential - Attorneys Eyes Only - US Only". The Court's ruling will allow Vringo to participate more effectively in its breach of contract case against ZTE, in which the Court has already held that ZTE breached a non-disclosure agreement signed between the parties in December 2013. ZTE may request that these communications remain confidential by July 6.
June 26, 2015
17:20 EDTVRNGVringo files $50M mixed securities shelf
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June 24, 2015
08:40 EDTVRNGVringo announces creation of JV
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