Early Reports Indicate Vringo's Court Victory Worth Over $500 Million

Tue Nov 6, 2012 3:22pm EST

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Sources in the Virginia courtroom who saw a jury award Vringo's (AMEX:VRNG) subsidiary I/P Engine $32M in past damages plus 3.5 percent royalties on its patents until they expire in 2016 say the deal will total more than $125 Million per year for five years.

The federal jury awarded judgements against a handful of technology giants, including Google Inc (NASDAQ: GOOG),AOL (NYSE:AOL), Target (NYSE:TGT) and Gannett (GCI) in the widely publicized lawsuit.

More details to follow as they develop.

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