BETHESDA, Md., July 29, 2014 /PRNewswire/ -- Spherix
Incorporated (SPEX) -- an intellectual property development company
committed to the fostering and monetization of intellectual
property, today announced a summary of the Company's legal
proceedings as they relate to monetization of the Company's
intellectual property. The legal proceedings demonstrate a
strategy to assert multiple different patents in different
technology areas. Spherix aims to develop multiple licensing
revenue sources, through both litigation and through partnering
with those utilizing its intellectual property.
Anthony Hayes, Chief Executive
Officer of Spherix, stated, "As part of our overall licensing
program, Spherix has asserted multiple independent patent families
in different technology fields. A key component of the
Company's strategy attempts to establish multiple revenue sources
that function independently of each other. By asserting
different patent families in diverse technology fields, we hope to
decrease the risks associated with a monetization strategy that
relies solely upon the assertion of the same patents over and
over. Currently, our monetization strategy seeks to establish
licensing revenue in the areas of cell phone location, cordless
phones, the provision of Internet services, and routing and
switching equipment. These four (4) licensing programs are
based on four different groups of patents, each group including
independent patent families. Within most of the different
programs, we are asserting litigation against multiple
defendants. This monetization strategy diversifies the
Company's opportunities for revenues in four distinct programs.
Frank Reiner, Vice President of
Finance & Licensing for Spherix, stated, "We continue to
identify infringes of our patents, which cover many areas of some
of the largest technology fields in use today. We foresee
many opportunities to monetize these assets in the future."
Summary of Active Lawsuits:
Cordless Phone Technology
- On August 30, 2013, the Company
initiated litigation against VTech in the United States District
Court for the Northern District of Texas for infringement U.S. Patent Nos.
5,581,599; 5,752,195; 5,892,814; 6,614,899; and 6,965,614. On
May 22, 2014, the Court entered a
Scheduling Order for the case. The Markman hearing is
currently set for October 2,
2014.
- On August 30, 2013, the Company
initiated litigation against Uniden in the United States District
Court for the Northern District of Texas for infringement of U.S. Patent Nos.
5,581,599; 5,752,195; 6,614,899; and 6,965,614. On
May 22, 2014, the Court entered a
Scheduling Order for the case. The Markman hearing is
currently set for October 2,
2014.
Cell
Phone Location
- On August 1, 2013, the Company
initiated litigation against T-Mobile Inc. in the United States
District Court for the Middle District of Florida for infringement of U.S. Patent No.
5,719,584. On April 24, 2014,
the Court transferred the case to the United States District Court
for the Western District of Washington, which has not yet entered a
Scheduling Order.
- On December 6, 2013, the Company
initiated litigation against AT&T in the United States District
Court for the Northern District of Texas for infringement of a U.S. Patent. No.
5,719,584. On March 7, 2014,
the Court entered a Scheduling Order for the case.
Routing & Switching Equipment
- On March 24, 2014, the Company
initiated litigation against Cisco Systems in the United States
District Court for the District of Delaware for infringement of U.S. Patent Nos.
RE40467; 6,697,325; 6,578,086; 6,222,848; 6,130,877; 5,970,125;
6,807,174; 7,397,763: 7,664,123; 7,385,998; and 8,607,323. On
July 8, 2014, Spherix filed an
Amended Complaint to reflect that certain of the patents asserted
were assigned to Spherix's wholly-owned subsidiary NNPT, LLC, based
in Longview, Texas. By the Amended
Complaint, NNPT, LLC was added as a co-plaintiff with
Spherix. Cisco's deadline to respond to the Amended
Complaint, subject to change by agreement of the parties or by
Order of the Court, currently is August 5,
2014.
- On May 2, 2014, the Company
initiated litigation against Juniper Networks in the United States
District Court for the District of Delaware for infringement of U.S. Patent Nos.
RE40467; 6,578,086; 6,130,877; 7,664,123; and 8,607,323. On
July 8, 2014, Spherix filed an
Amended Complaint to reflect that certain of the patents asserted
were assigned to Spherix's wholly-owned subsidiary NNPT, LLC, based
in Longview, Texas. By the
Amended Complaint, NNPT, LLC was added as a co-plaintiff with
Spherix. Juniper's deadline to respond to the Amended
Complaint, subject to change by agreement of the parties or by
Order of the Court, currently is August 8,
2014.
- On June 9, 2014, Spherix
initiated litigation against Huawei in the United States District
Court for the Eastern District of Texas, for infringement of United States
Patent Nos. 6,578,086; 6,130,877; 6,697,325; 7,664,123; and
8,607,323. Huawei has not yet answered the Complaint.
Huawei's deadline to respond to the Complaint, subject to approval
by the Court, currently is September 8,
2014.
Internet Service Providers
- On June 11, 2014, the Company
initiated litigation against Verizon in the United States District
Court for the Eastern District of Virginia for infringement of U.S. Patent Nos.
6,507,648; 6,882,800; 6,980,564; and 8,166,533. On July 2, 2014, Spherix filed an Amended Complaint
in the case in which it added allegations of infringement of an
additional U.S. patent 7,478,167. Verizon's deadline to
respond to the Amended Complaint, subject to change by agreement of
the parties or by Order of the Court, currently is August 15, 2014.
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. 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.
Investor Relations Contact:
Hayden IR
Brett Mass
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
Spherix Contact:
Phone: (703) 992-9325
Email: info@spherix.com
www.spherix.com
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