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Actionable news in VRNG: Vringo, Inc.,


NEW YORK - October 22, 2015 - Vringo, Inc. (NASDAQ:VRNG), a company engaged in the innovation, development and monetization of intellectual property, today announced that, for the eleventh time, a Brazilian court has denied ZTE's attempt to overturn the preliminary injunction which was granted on April 15, 2014.

On April 15, 2014, the 5thBusiness Trial Court of the State of Rio de Janeiro granted Vringo's request for an ex-parte preliminary injunction against ZTE, ordering ZTE to cease commercializing 3G and 4G infrastructure technology in Brazil.

Since that date, ZTE has attempted, unsuccessfully, to have the preliminary injunction overturned eleven times. ZTE has done so by petitioning four separate courts, utilizing a wide variety of procedural mechanisms, and re-litigating the same issues.

To date, the court has rejected each and every one of ZTE's attempts.

In the latest instance, on June 19, 2015, ZTE filed a second interlocutory appeal to lift the injunction upon the payment of a bond or imposition of a royalty rate. Yesterday, the Rio de Janeiro State Court of Appeals rejected ZTE's request, holding that the Court had already decided previous ZTE appeals against the granting of the injunction, and that ZTE has already filed a separate lawsuit before the 13thFederal Trial Court of Rio de Janeiro seeking the determination of a royalty rate.

Following this latest rejection of ZTE's attempt to overturn the preliminary injunction, ZTE remains enjoined from commercializing 3G and 4G infrastructure technology in Brazil and Vringo continues to be able to enforce the preliminary injunction.

In addition, according to a report prepared by court-appointed experts following a...