Vringo up 14.6% after Teva verdict
Jan 20 2015, 12:14 ET | By: Eric Jhonsa, SA News Editor
- By a 7-2 margin, the Supreme Court has ruled in favor of
Teva Pharmaceuticals in its patent suit against generic drugmakers,
thereby reversing a federal appeals court (CAFC) decision that declared a
patent in dispute was invalid, and sending the case back for further
review.
- Vringo (NASDAQ:VRNG) appears to have gotten a lift from the
ruling. The company is a month removed from
stating it will seek a Supreme Court review of the CAFC's adverse ruling
against Vringo regarding its infringement suit against Google, after the
CAFC denied a petition for an en banc review of its decision. (hat tip: Patent Plays)
- Shares are still down 82%
from where they traded prior to the Google ruling.