By Ben Fox Rubin
Small technology company Vringo Inc. (VRNG) was awarded about
$30 million in damages and granted future royalties in its patent
suit against a handful of technology giants, including Google Inc.
(GOOG) and AOL Inc. (AOL), according to a source familiar with the
case.
A federal jury found that Vringo's patents were valid, opening
up the possibility of future lawsuits. Vringo was awarded a 3.5%
running royalty rate off a portion of the defendants'
search-advertising revenue until the patents expire in 2016.
Vringo, a mobile-technology and intellectual-property company,
sued Google, AOL, IAC/InterActiveCorp. (IACI) and others, alleging
infringement of two of its patents used to select and position
advertising on Internet-search results. AOL earlier settled a
portion of the suit for $100,000.
Vringo's stock has moved wildly since the patent trial began
last month, sinking 36% last Wednesday after the judge in the case
ruled that Vringo couldn't be awarded a large chunk of the past
damages it sought, citing a long delay in filing its patent claim.
The stock then reversed that loss Monday, after a jury question on
damages fed speculation of a Vringo win.
Vringo's shares were halted for news at $4.25. The stock has
surged so far this year amid the patent dispute.
Write to Ben Fox Rubin at ben.rubin@dowjones.com.
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