VRINGO ANNOUNCES ADDITIONAL CHANGES TO BOARD OF DIRECTORS
17 March 2016 - 7:30AM
NEW YORK - March 16, 2016 -
Vringo, Inc. (NASDAQ: VRNG), a diversified technology company,
today announced that H. Van Sinclair and Noel J. Spiegel have
resigned from the Company's Board of Directors.
"We are very grateful to Van and
Noel for their contributions to Vringo during their tenures on our
Board of Directors. They each made significant contributions to the
Company and played important roles in our development. On behalf of
the entire company and our investors alike, I wish them well in
their future endeavors," said Andrew Perlman, Chief Executive
Officer of Vringo. He continued, "As we continue our evolution into
a diversified technology company, we are rotating in other
directors with relevant expertise. This began with the recent
addition of two experienced directors, Bruce Bernstein and Richard
Abbe, and will continue with others that will join in the near
future."
Mr. Sinclair served on the Board
of Directors since 2012, when he was a director and investor of
Innovate/Protect and Mr. Spiegel served on the Board of Directors
since joining in May 2013.
"I've enjoyed my time on Vringo's
Board of Directors. It has been a pleasure witnessing the company
and management evolve over the last four years. I believe they will
grow the company and I wish them the best of luck," said Mr.
Sinclair.
"It has been a pleasure to serve
on Vringo's Board of Directors and get to know members of the team
over the last three years. I look forward to watching them to
develop their business units and grow the company," said Mr.
Spiegel.
About Vringo,
Inc.
Vringo, Inc. is a diversified
technology company engaged in the innovation, development,
commercialization and monetization of three operating segments: Fli
Charge, Group Mobile, and Intellectual Property. Fli Charge is
dedicated to the licensing and commercialization of wire-free power
technologies. Group Mobile is dedicated to the marketing and sale
of rugged computing devices. Intellectual Property consists of a
portfolio of more than 600 patents and patent applications covering
telecom infrastructure, internet search, ad-insertion, mobile and
wire-free charging technologies; visit: www.vringo.com |
www.flicharge.com | www.groupmobile.com
Forward-Looking
Statements
This press release includes
forward-looking statements, which may be identified by words such
as "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative
of such terms, or other comparable terminology. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ materially from the
forward-looking statements contained herein. Factors that
could cause actual results to differ materially include, but are
not limited to: our inability to license and monetize our patents,
including the outcome of litigation; our inability to monetize and
recoup our investment with respect to patent assets and other
businesses that that we have acquired or acquire in the future; our
inability to develop and introduce new products and/or develop new
intellectual property; our inability to protect our intellectual
property rights; new legislation, regulations or court rulings
related to enforcing patents, that could harm our business and
operating results; unexpected trends in the mobile phone and
telecom computing industries; our inability to raise additional
capital to fund our combined operations and business plan; our
inability to maintain the listing of our securities on a major
securities exchange; general economic conditions and level of
information technology and consumer electronics spending; the
potential loss of one or more of our significant Original Equipment
Manufacturer ("OEM") suppliers, the potential lack of market
acceptance of our products; market acceptance, quality, pricing,
availability and useful life of our products and services, as well
as the mix of our products and services sold; potential competition
from other providers and products; our inability to retain key
members of our management team; our liquidity and other risks and
uncertainties and other factors discussed from time to time in our
filings with the Securities and Exchange Commission ("SEC"),
including our annual report on Form 10-K filed with the SEC on
March 10, 2016. Vringo expressly disclaims any obligation to
publicly update any forward-looking statements contained herein,
whether as a result of new information, future events or otherwise,
except as required by law.
Contacts:
Investors and Media
212-309-7549
info@vringoinc.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Vringo, Inc. via Globenewswire
HUG#1994701
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