BETHESDA, MD / CRWEPRESSRELEASE / September 21, 2015 / Spherix Incorporated (NASDAQ: SPEX) an intellectual property development company committed to the fostering and monetization of intellectual property, today provided updates about its litigations against Verizon and Uniden.
Spherix announced that Verizon and Spherix jointly filed a motion with the Patent Trial and Appeal Board (“PTAB”) to terminate the Inter Partes Review (“IPR”) procedure filed by Verizon. The joint motion was filed on September 10, 2015 and the PTAB dismissed Verizon’s petition on September 14, 2014. The parties also filed dismissals of Verizon from Spherix’s litigations in the United States District Court for the Eastern District of Virginia, and the court has dismissed Verizon from the cases.
Spherix also announced that a temporary stay has been granted in the Company’s litigation against Uniden America Corporation. As previously announced, on March 3, 2015, the PTAB entered decisions instituting, on narrowly limited grounds, IPR proceedings regarding a portion of the claims for two Spherix patents that are being asserted in litigation against Uniden. The IPR hearing is scheduled for September 28, 2015. Based on the schedule and recent timelines from the Patent Trial and Appeal Board, Spherix management anticipates a decision by the end of 2015. As such, the parties requested and have been granted a temporary stay of the litigation in district court in order to obtain a clear definition of the scope of issues before proceeding further.
Anthony Hayes, Chief Executive Officer of Spherix, stated, “As always, we are focused on maximizing shareholder value at all times, and we are pleased to have resolved the Verizon matter and terminated the proceedings. In the Uniden matter, we believe a short stay of the litigation is appropriate as the Patent Trial and Appeal Board deliberates. Once we have a decision in that matter, we will have a clear understanding of the issues at hand, and can move efficiently and effectively toward a final resolution.”
Spherix is committed to advancing innovation by active participation in all areas of the patent market. Spherix draws on portfolios of pioneering technology patents to partner with and support product innovation. Spherix has acquired over 100 patents from Rockstar Consortium Inc., and several hundred patents issued to Harris Corporation, covering a variety of methods and components involved in switching, routing, networking, optical and telephone technologies, as well as in the wireless communications and telecommunication sectors.
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.
SOURCE: Spherix Incorporated