MicroVision (MVIS) is way up over its daily average of 84,000 shares a day, moving some 2.5 million plus with little over an hour of the trading day left.
The company’s stock has taken off today after they reportedly reached a development deal with a prominent global electronics company. MicroVision said it has agreed to allow a Fortune Global 100 electronics giant to incorporate the company’s PicoP display technology into a display engine which could create and launch a variety of new commercial products. MicroVision has said the deal will help the original equipment manufacturer develop its display engine based on the patented PicoP display technology. This will net MicoVision $4.6 million in development fees over the next 13 months.
Alexander Tokman, president and CEO of MicroVision, issued a statement saying; “We believe this agreement, a milestone advancement of our “Image by PicoP” licensing business model, helps build our pipeline for potential significant future revenue.”
It looks like Vringo, Inc. (NYSE:VRNG) has taken the big boys to task for infringing on their products and won. The company’s stock has jumped over 6% today after moving over 7.5 million shares.
The company has just announced that the Court has ruled on the post-trial motions in its wholly-owned subsidiary I/P Engine, Inc.`s litigation against AOL, Inc., Google, Inc., IAC Search & Media, Inc., Gannett Company, Inc., and Target Corporation (collectively, “Defendants”). This summary is qualified in its entirety by the Court`s rulings. On November 6, 2012, a jury in U.S. District Court in Norfolk, Virginia ruled in favor of I/P Engine and against Defendants with respect to Defendants` infringement of the asserted claims of U.S. Patent Nos. 6,314,420 and 6,775,664. After upholding the validity of the patents-in-suit, and determining that the asserted claims of the asserted patents were infringed by Defendants, the jury found that reasonable royalty damages should be based on a “running royalty,” and that the running royalty rate should be 3.5%. The jury also awarded I/P Engine a total of approximately $30.5 million. On November 20, 2013, the clerk entered the Court`s final judgment. Thereafter, the parties filed and briefed post-trial motions.
Vringo is a company engaged in the innovation, development and monetization of mobile technologies and intellectual property. Vringo`s intellectual property portfolio consists of over 500 patents and patent applications covering telecom infrastructure, internet search, and mobile technologies.
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