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Why Vringo Shares Soared Double Digits After Hours

Zemanta Related Posts ThumbnailShares of Vringo (NASDAQ: VRNG) were up more than 13 percent in after hours trading Tuesday. While no official word came from either party, reports indicate that Google will have to pay a 6.5 percent royalty to Vringo for all AdWords sales.

The ruling came after the two parties could not reach an agreement. This came as a result of a January 22 ruling that Vringo is entitled to ongoing royalties from Google as long as it uses its current system.

The stock was halted and didn’t open prior to the end of the after hours trading session.

Disclosure: At the time of this writing, Tim Parker had no position in the company mentioned.

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