NEW YORK, Jan. 23, 2017 /PRNewswire/ -- Spherix
Incorporated (Nasdaq: SPEX) an intellectual property development
company committed to the fostering of technology and monetization
of intellectual property, today provided an update on its active
patent infringement lawsuits.
Anthony Hayes, Chief Executive
Officer of Spherix, stated, "As we enter 2017, we will continue to
communicate with shareholders about the status of existing
monetization efforts with Equitable IP and our due diligence on
other patent assets that fit with our current holdings. We
understand the monetization efforts may widely vary with respect to
size, scope and complexity. However, there is one feature
that tends to remain consistent. The patent enforcement process is
sometimes long and requires patience. To that end we want to thank
our committed shareholders for their patience and long term
focus."
As previously reported, the following suits are on file as part
of our joint monetization efforts with Equitable IP and each of
these suits are in varying stages of litigation:
Name of
Defendants
|
Case
Number
|
District
Pending
|
Patents in
Suit
|
Fairpoint
Communications, Inc.
|
1:16-cv-00305-RGA
|
District of
Delaware
|
RE40999
|
ATN International,
Inc. Commnet Wireless, LLC Choice Communications LLC, and Choice
Communications, LLC
|
1:16-cv-00718-RGA
|
District of
Delaware
|
RE40999
|
Cincinnati Bell,
Inc.
|
1:16-cv-00715-RGA
|
District of
Delaware
|
RE40999
6970461
7478167
|
Echostar
Corporation
|
1:16-cv-00716-RGA
|
District of
Delaware
|
RE40999
|
Frontier
Communications Corporation
|
1:16-cv-00714-RGA
|
District of
Delaware
|
RE40999
|
Sprint Corporation
and Clearwire Corporation
|
1:16-cv-00719-RGA
|
District of
Delaware
|
RE40999
|
ViaSat,
Inc.
|
1:16-cv-00720-RGA
|
District of
Delaware
|
RE40999
|
DragonWave Inc. and
DragonWave Corp
|
1:16-cv-00797-RGA
|
District of
Delaware
|
RE40999
|
Fortinet,
Inc.
|
1:16-cv-00795-RGA
|
District of
Delaware
|
RE40999
|
GTT Communications,
Inc.
|
1:16-cv-00796-RGA
|
District of
Delaware
|
RE40999
|
Alcatel-Lucent S.A.,
Alcatel-Lucent USA Inc.
|
1:16-cv-01077-RGA
|
District of
Delaware
|
RE40999
7158515
6222848
6697325
6578086
|
As previously reported, Spherix continues to focus on additional
revenue streams to create shareholder value and has entered into a
consulting agreement with LawCash, a specialty finance company,
concentrating in litigation funding and attorney
financing services. As one of the nation's leading
providers of litigation financing, LawCash offers individual
plaintiff and attorney funding before and after
settlement or verdict. LawCash litigation financing allows
personal-injury victims, lawsuit plaintiffs, and attorneys to
pay expenses and manage cash flow while awaiting the resolution of
their claims.
Spherix also reported today that, in its infringement case
against Uniden, the parties have settled the litigation and Uniden
has taken a license. The Company's appeal of patent
invalidity at the Patent Trial and Appeal Board will continue
without Uniden as a party. Mr. Hayes stated, "The Uniden
settlement will allow us to lower our litigation expenses, generate
revenue and prove out our belief that this patent family is
valuable and might be used to pursue further infringement 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. 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:
|
Robb Knie
|
|
Phone:
212-745-1373
|
|
Email:
investorrelations@spherix.com
|
|
|
Spherix:
|
Phone: (703)
992-9325
|
|
Email:
info@spherix.com
|
|
www.spherix.com
|
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visit:http://www.prnewswire.com/news-releases/spherix-updates-shareholders-300394545.html
SOURCE Spherix Incorporated