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Why Vringo (VRNG) Stock Is Up Today

NEW YORK (TheStreet) -- Vringo (VRNG) was gaining 4.1% to $3.56 Wednesday after the U.S. Patent and Trademark Office confirmed its U.S. Patent No. 6,314,420 is still valid.

The company says is received a letter from the USPTO saying it will issue a certificate confirming the '420 patent remains "valid and unchanged." The '420 patent is one of two asserted in Vringo's suit against Google (GOOGL). The USPTO confirmed the validity of the other patent last fall.

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VRNG Chart

VRNG data by YCharts

"Vringo, Inc. (Vringo) is a development-stage company. The Company is engaged in developing software for mobile phones. It provides a platform, which allows users to create, download and share mobile entertainment content in the form of video ringtones for mobile phones. Vringo's product consists of four components, such as The Vringo Mobile Application, The Vringo WAP Site, The Vringo Website and The Vringo Studio. Vringo (Israel) Ltd. is its wholly owned subsidiary. In July 2012, it merged with Innovate/Protect, Inc. The Company's VringForward technology enables users to share video ringtones with friends. Its Vringo Mobile Application includes gallery-based content browsing of video ringtones. In August 2012, Nokia Oyj sold a portfolio consisting of over 500 patents and patent applications worldwide to Vringo."

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

 

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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