The Russell Global Index added Vringo, Inc. (NYSE MKT: VRNG) to the Russell Microcap Index ® after the equity markets closed on June 22, as part of Russell's reconstitution of its global indexes.
Clifford J. Weinstein, Executive Vice President of Vringo commented, "We are pleased to be integrated into the Russell Indexes. This accomplishment is an important milestone in the continued execution of our corporate strategy. We believe our inclusion in the Russell Index will expand Vringo's visibility to a broader range of institutional investors. We look forward to closing our proposed merger with Innovate/Protect, Inc., and continuing to execute on our core strengths in innovation, licensing and protection."
Investment managers and institutional investors use the Russell indexes as benchmarks for both passive and active investment strategies. Membership in the Russell Microcap Index remains in place for one year. Annual reconstitution of the Russell Indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000 Index and Russell Microcap Index.
About RussellRussell Investments ("Russell") is a global asset manager that offers actively managed, multi-asset portfolios and services that include advice, investments and implementation. Working with institutional investors, financial advisors and individuals, Russell’s core capabilities extend across capital markets insights, manager research, Indexes, portfolio implementation and portfolio construction. As of March 31, 2012, Russell had approximately $155 billion in assets under management and worked with 2,400 institutional clients, more than 580 independent distribution partners and advisors, and individual investors globally. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company. About Vringo, Inc. Vringo, Inc. ("Vringo") is a provider of software platforms for mobile social and video applications. With its award-winning video ringtone application and other mobile software platforms, including Facetones™, Vringo transforms the basic act of making and receiving mobile phone calls into a highly visual, social experience.