Vringo unlikely to reverse adverse appellate ruling, Altitude Capital’s Rob Kramer says

Vringo Inc., the patent assertion company that lost $200 million of market value after an adverse appellate court ruling on Friday, probably won’t succeed in winning an en banc review of the decision or in reversing the decision, and will have to live with the consequences.

 

That’s the assessment of Rob Kramer, one of the founders and the managing partner of Altitude Capital Partners, a private investment firm launched in 2005 to focus on investing $250 million of capital in businesses which own compelling intellectual property assets.

 

“En banc reviews are very rare,” Kramer said in an interview. “Vringo was successful in some re-exams so the Federal Circuit’s ruling is a little surprising.”

 

The Court of Appeals for the Federal Circuit on Friday reversed a 2012 jury verdict ordering Google Inc. to pay Vringo $30.5 million in damages plus a running royalty, which could have amounted to hundreds of millions of dollars. In the 2-1 ruling, the Federal Circuit reversed the verdict after finding that Vringo’s patents for a method of filtering Internet search queries was invalid because of obviousness.

By | August 21st, 2014|Patent Investing|Comments Off on Vringo unlikely to reverse adverse appellate ruling, Altitude Capital’s Rob Kramer says

Vringo plans to seek full court review of adverse appellate court ruling

Vringo Inc., the intellectual property monetizer run by CEO Andrew Perlman, said it plans to file a petition for an en banc review of a 2-1 appellate court ruling that reversed a 2012 jury verdict ordering Google Inc. to pay Vringo $30.5 million in damages and a royalty stream of 3.5% a year, which could [...]

By | August 20th, 2014|Patent Investing|Comments Off on Vringo plans to seek full court review of adverse appellate court ruling

Spherix CEO says company “not impacted” by Court of Appeals Vringo reversal

Anthony Hayes, the CEO of Spherix Inc., said the reversal of Vringo Inc.’s $30.5 million verdict against Google Inc. won’t impact the intellectual property development company’s business because the Vringo case involved software and Internet search engine patents which Spherix has intentionally avoided. The remarks were made during a conference call Monday Aug. 18 with [...]

By | August 18th, 2014|Patent Investing|Comments Off on Spherix CEO says company “not impacted” by Court of Appeals Vringo reversal

Vringo shares plummet after Court of Appeals overturns verdict, invalidates patents

Vringo Inc., the intellectual property monetizer run by CEO Andrew Perlman, lost $200 million of market value after its stock tumbled 72% Friday Aug. 15 as investors reacted to a devastating U.S. Court of Appeals ruling that threw out the company’s infringement case against AOL Inc., Google Inc. and others. Shares of Vringo, which trade [...]

By | August 17th, 2014|Patent Investing|Comments Off on Vringo shares plummet after Court of Appeals overturns verdict, invalidates patents

Court approves joint dismissal of Spherix claim against AT&T and counter claim

Spherix Inc., the intellectual property development company run by CEO Anthony Hayes, was handed a defeat in one of its nine existing cases last week when it was forced to file a joint motion to dismiss a patent infringement suit against AT&T Inc. Bethesda, Maryland-based Spherix filed the suit — Guidance IP LLC v. AT&T [...]

By | August 16th, 2014|Patent Investing|Comments Off on Court approves joint dismissal of Spherix claim against AT&T and counter claim