BETHESDA, MD / CRWEPRESSRELEASE / September 4, 2015 / Spherix Incorporated (Nasdaq: SPEX) an intellectual property development company committed to the fostering and monetization of intellectual property, today announced that a settlement agreement between Spherix and Verizon was entered into as of August 31, 2015, resolving all outstanding litigation between the two companies. Per the agreement reached by the parties, no commercial terms are disclosed.
Anthony Hayes, Chief Executive Officer of Spherix, stated, “With the Verizon matter behind us, we continue to actively pursue claims in six active lawsuits across multiple jurisdictions. This update is part of our ongoing effort to keep shareholders informed about the status of our pending litigation as we move toward unlocking the value of our formidable portfolio of patents.”
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.
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.