BETHESDA, Md., Aug. 25, 2014 /PRNewswire/ -- Spherix
Incorporated (NASDAQ: SPEX) -- an intellectual property
development company committed to the fostering and monetization of
intellectual property, announced that on August 19, 2014, the Honorable Gerald Bruce Lee,
United States District Judge for the Eastern District of
Virginia, in Case No.
1:14-cv-00721 -GBL-TCB, issued a scheduling order in the Company's
patent litigation against Verizon Services, Corp.; Verizon South,
Inc.; Verizon Virginia LLC; Verizon Communications, Inc.; Verizon
Federal, Inc.; Verizon Business Network Services, Inc.; MCI
Communications Services, Inc. (collectively "Verizon")(NYSE:
VZ).
The judge ordered both parties to appear for a pretrial
conference on September 10, 2014, and
ordered discovery to be complete by December
12, 2014. The order also states the trial of this case will
be within four to eight weeks after the December 18, 2014 final pretrial
conference.
Anthony Hayes, Chief Executive
Officer of Spherix, stated, "It's been three years since the
auction of the Nortel Patent portfolio garnered $4.5 billion dollars and a portion of those same
patents are now scheduled for trial against Verizon. To our
knowledge, this may be the first time since the auction that these
valuable patents will be presented to a jury. The Company looks
forward to a jury confirming just how valuable these parents are
and we are pleased that will happen quickly."
The patents asserted in the litigation were acquired by Spherix
in December 2013 from Rockstar, and
are related to Verizon's FiOS, VoIP and other internet services
provided by Verizon. The complaint seeks recovery of damages for a
portion of the substantial revenue associated with the infringed
patents.
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.
Contact:
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
Logo -
http://photos.prnewswire.com/prnh/20131104/PH08853LOGO
SOURCE Spherix Incorporated