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Vringo (VRNG) Extends Patent-Infringement Suit Against ZTE

 February 21, 2013 10:35 AM
 


(By Balachander) Vringo Inc. (NYSEAMEX: VRNG) said it has extended its patent-infringement lawsuit against ZTE Corp. China, and its German subsidiary.

The software developer for cellphones said trial on the first asserted patent is scheduled on Sept. 24 in the absence of an agreed settlement.

"We believe that ZTE is one of several large multinational telecom equipment companies that are currently infringing patents in our Telecommunications Infrastructure Portfolio," said Vringo CEO Andrew Perlman.

"The asserted patent covers fundamental aspects of network operation, and is part of our telecom infrastructure portfolio," Vringo said.

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ZTE claims it is "a leading global provider of telecommunications equipment and network solutions," with reported annual revenue of $13.7 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 pleading alleges infringement of the German part of European Patent 1,186,119.

Late last year, Vringo won its patent-infringement suit against Google (NASDAQ: GOOG) and it was awarded $30 million in damages.

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VRNG shares, which have been trading in the 52-week range of $1.18 to $5.73, retreated 2.05 percent to trade at $3.11 on Thursday.

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