Will Vringo (VRNG) Stock Be Impacted By Court Decision?

NEW YORK (TheStreet) -- Vringo Inc. (VRNG) announced today that a court in Rio de Janeiro upheld an injunction against ZTE Corp. (ZTCOY) for allegedly infringing on Vringo's Brazilian patent relating to its 3G/4G/LTE infrastructure.

Vringo is a company engaged in the innovation, development, and monetization of intellectual property and mobile technologies.

ZTE Corp. is a Chinese multinational equipment and systems company, which has been restrained from manufacturing, using, selling, installing, testing, or importing such infrastructure equipment, Vringo said.

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Shares of Vringo are up -0.85% to $3.58, while shares of ZTE Corp are down -1.42% to $3.88 in early afternoon trading on Wednesday.

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