NEW YORK, Dec. 5, 2016 /PRNewswire/ -- Spherix
Incorporated (Nasdaq: SPEX) an intellectual property
development company committed to the fostering and monetization of
intellectual property and the advancement of technology, today
announced that as part of its previously announced collaboration
with Equitable IP Holdings LLC ("Equitable" and the "Equitable IP
Program"), Equitable has filed an additional lawsuit for the
infringement of valuable patent assets formerly owned by Nortel
Networks.
The Equitable IP Program is designed to cost-effectively and
rapidly monetize a portion of Spherix's patent portfolio. As
part of this agreement, Spherix and Equitable brought together key
leadership from among investment fund managers, patent litigation
experts and patent monetization strategists to monetize these
valuable assets.
The new lawsuit was filed in the U.S. District Court for the
District of Delaware against
Alcatel-Lucent S.A. and Alcatel-Lucent USA, Inc., which are the French and U.S.
entities, respectively. The following five patents formerly
owned by Nortel are asserted in the lawsuit:
U.S. Patent No.
7,158,515
|
"Method of Optical
Network Bandwidth Representation for Optical Label Switching
Networks"
|
U.S. Patent No.
RE40,999
|
"VLAN Frame
Format"
|
U.S. Patent No.
6,222,848
|
"Gigabit Ethernet
Interface to Synchronous Optical Network (SONET) Ring"
|
U.S. Patent No.
6,578,086
|
"Dynamically Managing
the Topology of a Data Network"
|
U.S. Patent No.
6,607,325
|
"System, Device, and
Method for Expediting Reconvergence in a Communication
Network"
|
The products presently accused of infringement in this new
lawsuit include the following Alcatel-Lucent
1626 and 1850 Light Managers
1643 Access Multiplexer and 1643 Access Multiplexer
Small
1663 Add Drop Multiplexer
(ADM-Universal)
1665 Data Multiplexer Extend DMXtend
1850 TSS-320 transport switch
5620 Service Aware Manager
7210 Service Access Switch
7450 ESS Ethernet service switch
7705 Service Aggregation Router
7750 Service Router or mobile gateway
7950 Extensible Routing System (XRS)
AnyMedia Access System
OmniSwitch series switches
Optical service routers 7750 SR
VPN Firewall Brick 150
Anthony Hayes, Chief Executive
Officer of Spherix, stated, "We are pleased to announce this new
litigation as part of our continuing objective to expand our
monetization efforts under the Equitable IP Program. We believe
there is widespread infringement of each of these patents and we
look forward to additional steps towards value creation. We
will continue to work to bring value for our shareholders, and we
anticipate more infringement cases in the very near future."
About Spherix
Spherix Incorporated was launched in 1967 as a scientific research
company. Spherix is committed to advancing innovation and
technology, by active participation in the litigation
market.
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: Hayden
IR
Brett Mass, Managing
Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
Spherix:
Phone: (703) 992-9325
Email: info@spherix.com
www.spherix.com
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SOURCE Spherix Incorporated