BETHESDA, Md., April 6, 2015 /PRNewswire/ -- Spherix
Incorporated (Nasdaq: SPEX) -- an intellectual property development
company committed to the fostering and monetization of intellectual
property, today issued an update on several matters:
- On March 31, 2015, in Bockstar
Technologies LLC. v. Cisco Systems Inc., Case
No. 1:13-cv-02020-SLR, U.S. District Court for the District of
Delaware, the Court granted
Spherix's motion to dismiss Cisco's claims against Spherix and
closed the case. Spherix claimed that the Court did not have
jurisdiction over Cisco's declaratory judgment claims against
Spherix in a case brought by the former Rockstar Patent
Consortium.
- On March 31, 2015, in Spherix
Inc. and NNPT, LLC v. Cisco Systems, Inc., Case No.
1:14-cv-00393-SLR, U.S District Court for the District of
Delaware, and Spherix Inc. and
NNPT, LLC v. Juniper Networks, Inc., Case No.
1:14-cv-00578-SLR, U.S. District Court for the District of
Delaware, the Court granted
Defendants' motion to dismiss allegations of "willful"
infringement. "Willful" infringement is often defined as
infringement that is done deliberately and intentionally, and with
knowledge of the patent. Spherix's allegations of patent
infringement for the eleven asserted patents continue and Spherix
has the ability to re-allege "willful" infringement later.
- On April 3. 2015, Cisco Systems,
Inc. petitioned the U.S. Patent Office for an inter partes
review ("IPR") of Spherix patents 7,397,763 and 8,607,323.
Spherix has three months to respond to the petitions. The
remaining nine patents Spherix has asserted against Cisco were not
part of the petitions filed last week and the time for Cisco to
petition the USPTO for an IPR on those remaining patents expires on
April 6, 2015.
Anthony Hayes, Chief Executive
Officer of Spherix, stated, "It has been a busy time for
Spherix and we remain committed to keeping our shareholders
updated on our active litigations. We are pleased that the
Court granted our motion to dismiss against Cisco in
Bockstar and thank our counsel for doing a great job.
We further respect the Court's decisions regarding 'willful'
infringement and look forward to seeing those cases now move
forward and revisiting the issue of 'willfulness' later in those
cases. In addition, we wish to advise our shareholders that
Spherix continues to explore all monetization avenues to drive
shareholder value. Spherix has been approached by third
parties to purchase portions of our current patent portfolio.
Whether we are able to effectuate a beneficial transaction remains
uncertain, but we are focused on optimizing our assets for the
benefit of our shareholders."
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:
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Investor
Relations:
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Hayden IR
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Brett Mass, Managing
Partner
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Phone: (646)
536-7331
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Email:
brett@haydenir.com
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www.haydenir.com
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Spherix:
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Phone: (703)
992-9325
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Email:
info@spherix.com
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www.spherix.com
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SOURCE Spherix Incorporated