TYSONS CORNER, Va.,
March 27, 2014 /PRNewswire/ --
Spherix Incorporated (NASDAQ:SPEX) -- an
intellectual property development company committed to the
fostering and monetization of intellectual property, today
announced that it has commenced patent litigation in the United
States District Court for the District of Delaware against Cisco
Incorporated (NASDAQ:CSCO) alleging that the San Jose, CA
based company infringes 11 patents owned by Spherix. These patents,
developed by inventors at Nortel Networks and acquired by Spherix
in December 2013, relate to Cisco's
products including routers and switches.
Spherix contends that the scope of Cisco's infringement of the
asserted patents has been and continues to be immense. Cisco
is believed to have revenues of over $6
billion from switching and over $3
billion from routers in the United
States for its fiscal year ended July
27, 2013 and total revenues of over $30 billion from switching and $13 billion from routers in the United States for the five fiscal years
ended July 27, 2013. The
Company believes that the vast majority of Cisco's switching and
routing revenue from March 2008
through the present has been generated by products and services
implementing technology that the company believes infringes on the
11 patents.
The law firm of Cozen O'Connor P.C. represents Spherix in this
litigation. Cozen O'Connor is a national law firm, employing
more than 575 attorneys in 23 cities on two continents. Their
lawyers counsel clients on sophisticated legal matters in all areas
of litigation, including intellectual property matters, as well as
corporate and regulatory law. Cozen O'Connor represents
a broad array of leading global corporations in all major
industries. Kerry McTigue,
Barry Golob and Don McPhail, experienced trial attorneys and
partners in the firm's Intellectual Property Practice, are
representing Spherix in the litigation. Their practice is
focused on complex patent litigation in the consumer electronics
and life sciences sectors and they collectively have led trial
teams in more than 100 cases.
About Spherix
Spherix Incorporated was launched in
1967 as a scientific research company. Spherix is committed to
advancing innovation by active participation in the patent
market. Spherix draws on portfolios of pioneering technology
patents to partner with and support product innovation.
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,
including the Prospectus filed under Rule 424B3 filed February 19, 2014 with the SEC. 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.
Contact:
Investor Relations
Phone: (703)
992-9325
Email: info@spherix.com
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SOURCE Spherix Incorporated