Vringo Issues Investor Update

News Release Details

Vringo Issues Investor Update


NEW YORK--(BUSINESS WIRE)--Aug. 30, 2012-- Vringo, Inc. (NYSE MKT: VRNG), a company engaged in the innovation, development and monetization of mobile technologies and intellectual property, today issued an update for investors.

Clifford Weinstein, Executive Vice President of Vringo said, "We take this opportunity to update the market on our current litigation and offer some further details on the wireless infrastructure portfolio we recently acquired from Nokia. With respect to the Nokia portfolio, we plan on taking action shortly through licensing and litigation campaigns."

Current Litigation: I/P Engine v. AOL, Google et al.

Vringo's wholly-owned subsidiary I/P Engine's case against Google, AOL, IAC, Target and Gannett is scheduled for a jury trial beginning October 16th in U.S. District Court in the Eastern District of Virginia, Norfolk Division. The patents-in-suit were originally acquired from Lycos, Inc.

On July 27, 2012, the parties exchanged expert reports on the issues for which the party has the burden of proof. I/P Engine provided defendants its expert reports on infringement and damages, and the defendants provided their expert report on invalidity, which happens in virtually all patent litigations.

The parties are exchanging rebuttal expert reports this week. Certain reports have been designated by the parties as confidential subject to the Protective Order entered by the Court on January 23, 2012 because they contain highly confidential business information. A copy of the Protective Order can be found on the public docket on Pacer (www.pacer.gov), document number 85.

Fact discovery in the case closes on September 4, 2012. Expert discovery closes on September 11, 2012.

Pre-trial disclosures are scheduled to be exchanged between the parties on September 19, 2012 and any objections exchanged on September 26, 2012. An attorney conference with the Court is scheduled for September 28, 2012. A final draft pretrial order will be proposed on October 3, 2012 and a final pretrial conference with the Court will be conducted on October 5, 2012. Proposed voir dire and jury instructions will be submitted to the Court on or before October 9, 2012. Trial will commence on October 16, 2012 at 10:00 AM.

Patents Recently Acquired from Nokia: Vringo Infrastructure, Inc. Portfolio

There are five general categories of infrastructure technologies covered by the Nokia portfolio: Communication Management; Data & Signal Transmission; Mobility Management; Radio Resources Management and Services.

The patents relating to communication management involve messaging and supplementary services including call waiting and conferencing. On a technical level, these patents cover communications from: mobile devices to the base transceiver station (e.g., cell tower); the base transceiver station to the base station controller (the "brains" behind the cell tower); and the base station controller to the mobile switching center (the device that connects the mobile system to the wider telephone network).

The patents relating to data & signal transmission involve sending voice (e.g., a standard phone call) and data (everything from email to web pages) over the network. Specifically, the patents cover the technology dealing with both kinds of transmissions. Thus, the patents covering voice transmission include communications from mobile devices, to base transceiver stations, to base station controllers, to mobile switching centers, to the public telephone network, known as the PSTN. The patents covering data transmission similarly include communications from mobile devices to base transceiver stations and base station controllers, and also include communications from base station controllers to the GPRS support nodes, the devices that allow GSM devices to send data packets to the internet.

The patents relating to mobility management involve tracking mobile device subscribers when they move from one location to another, allowing calls, SMS and other mobile phone services to be delivered to them as they move from the proximity of one cell tower to another and from one network to another.

The patents relating to radio resources management involve ensuring efficient communication between the various components of the infrastructure network such as routers, switches, and gateways. The patents cover technical aspects of such communication such as handoff, load balancing, channel assignment and packet scheduling.

The patents relating to services involve using the mobile infrastructure network for various remote transactions like billing, ticketing, e-services, and notifications.

About Vringo, Inc.

Vringo, Inc. is engaged in the innovation, development and monetization of mobile technologies and intellectual property. Vringo's intellectual property portfolio consists of over 500 patents and patent applications covering telecom infrastructure, internet search, and mobile technologies. The patents and patent applications have been developed internally, and acquired from Lycos, Inc. and Nokia Corporation. Vringo operates a global platform for the distribution of mobile social applications and services including FacetonesĀ® and Video Ringtones which transform the basic act of making and receiving mobile phone calls into a highly visual, social experience. For more information, visit: www.vringoIP.com.

Forward-Looking Statements

This press release includes forward-looking statements, which may be identified by words such as "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein. Factors that could cause actual results to differ materially include, but are not limited to: the inability to realize the potential value created by the merger with Innovate/Protect for our stockholders; our inability to raise additional capital to fund our combined operations and business plan; our inability to monetize and recoup our investment with respect to patent assets that we acquire; our inability to maintain the listing of our securities on the NYSE MKT; the potential lack of market acceptance of our products; our inability to protect our intellectual property rights; potential competition from other providers and products; our inability to license and monetize the patents owned by Innovate/Protect, including the outcome of the litigation against online search firms and other companies; our inability to monetize and recoup our investment with respect to patent assets that we acquire; and other risks and uncertainties and other factors discussed from time to time in our filings with the Securities and Exchange Commission ("SEC"), including our quarterly report on Form 10-Q filed with the SEC on August 14, 2012. Vringo expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.

Source: Vringo, Inc.

Vringo, Inc.
Cliff Weinstein, 646-532-6777
Executive Vice President
The Hodges Partnership
Caroline L. Platt, 804-788-1414
804-317-9061 (m)