Spherix Initiates Lawsuit Under Cordless Handset Patents Against VTech Communications in the Northern District of Texas
September 03 2013 - 6:00AM
Marketwired
Spherix Incorporated (NASDAQ: SPEX) ("Spherix" or the "Company") --
an intellectual property development company -- announced today
that it has filed suit against VTech Communications, Inc.
("VTech"), for patent infringement in the Northern District of
Texas. The patents at issue in the litigation were recently
acquired from Rockstar Consortium US LP, the successor to many
important Nortel Networks ("Nortel") patent assets and technology.
The patents included in the suit cover many cordless telephones,
including patents dating to 1993. VTech claims to be the world's
largest cordless telephone producer, including the production of
phones for AT&T. VTech is reported to have over $2.6 billion of
revenues during the claimed infringement period. VTech cordless
phones are sold at Wal-Mart, Best Buy, Circuit City, Costco, Office
Depot, Staples, Target and other locations.
The patents at issue were invented by former Nortel employees
working in the U.S. and Canada. VTech claims an 80% US market share
and has moved virtually all of its manufacturing to China.
"This lawsuit represents the continuing evolution of Spherix as
a technology company focused on protecting intellectual property
rights." said Harvey Kesner, Interim Chief Executive Officer of
Spherix. "As referenced in the complaint, VTech's overall revenue
for North America has risen 20% since Nortel's bankruptcy filing in
2009. According to our engineers and the prior Nortel engineers
that we relied on to review the products, many of VTech's own
patents cite our technology yet VTech has failed to recognize the
important patents on which its core products rely by seeking a
license. Instead, VTech has elected to disregard these patents
entirely. We intend to seek recompense for the significant
investment made by Nortel in developing these important inventions
and intend to try these cases to conclusion."
About Spherix Spherix Incorporated was
launched in 1967 as a scientific research company. Spherix
presently offers a diversified commercialization platform for
protected technologies. Through association with Rockstar
Consortium and the acquisition of several hundred patents developed
by Hughes, Spherix intends to expand its activities in wireless
communications and telecommunication including antenna technology,
Wi-Fi, base station functionality, and cellular. No assurance can
be given that the Company's patents or efforts seeking to license
or enforce any patents will be successful, generate income or
result in profits for the Company.
Forward Looking Statements Certain
statements in this press release constitute "forward-looking
statements" within the meaning of the federal securities laws.
Words such as "may," "might," "will," "should," "believe,"
"expect," "anticipate," "estimate," "continue," "predict,"
"forecast," "project," "plan," "intend" or similar expressions, or
statements regarding intent, belief, or current expectations, are
forward-looking statements. While the Company believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
These forward looking statements are based upon current estimates
and assumptions and are subject to various risks and uncertainties,
including without limitation those set forth in the Company's
filings with the Securities and Exchange Commission (the "SEC"),
not limited to Risk Factors relating to its patent business
contained therein. Thus, actual results could be materially
different. The Company expressly disclaims any obligation to update
or alter statements whether as a result of new information, future
events or otherwise, except as required by law.
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Contact: Spherix Incorporated Investor Relations
Phone: (703) 992-9325 Email: Email Contact
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