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BETHESDA, Md., Jan. 12, 2015 /PRNewswire/ -- Spherix Incorporated (Nasdaq: SPEX) -- an intellectual property development company committed to the fostering and monetization of intellectual property, today provided an update regarding Spherix v. Verizon, Case No. 1:14-cv-721-GBL-TCB in the United States District Court for the Eastern District of Virginia.

A trial date for the Company's case against Verizon has been set for May 18, 2015, while the Markman hearing remains scheduled for March 16, 2015.

Spherix continues to engage defendants the company believes are infringing on its Intellectual Property. Spherix looks forward to presenting its case and continues to evaluate further claims against other infringers.

Anthony Hayes, Chief Executive Officer of Spherix, stated, "The Verizon case continues to move quickly. We are encouraged by the progress in the Verizon case and continue to work to find a speedy and equitable resolution. Spherix has built a diversified platform for unlocking shareholder value that includes several, independent cases involving various aspects of our technology. As with all our cases, we remain committed to updating shareholders as developments occur."

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.

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SOURCE Spherix Incorporated