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Spherix Provides Litigation Update

2014-10-23 06:00 ET - News Release

BETHESDA, Md., Oct. 23, 2014 /PRNewswire/ -- Spherix Incorporated (NASDAQ: SPEX) -- an intellectual property development company committed to the fostering and monetization of intellectual property, today provided a litigation update.

Spherix v. VTech, Case No. 3:13-cv-03494-M and Spherix v. Uniden, Case No. 3:13-cv-03496-M, both in the United States District Court for the Northern District of Texas:

The Court has scheduled a Technology Tutorial for October 27, 2014.  In general terms, the Technology Tutorial is a non-evidentiary presentation prepared for the educational benefit of the Court, often to assist with technical issues related to the Markman hearing.  At the request of the Court, the parties have agreed to the appointment of a Technical Advisor to assist the Court with the technical issues.  The Court has also reset the Markman hearing to November 21, 2014.

Spherix Incorporated v. Verizon Services Corp. et al., Case No. 1:14-cv-00721-GBL-TCB, in the United States District Court for the Eastern District of Virginia:

As previously noted, the Verizon case is moving quickly.  Additional milestones and associated dates leading up to the Markman hearing, which is scheduled for March 16, 2015 are:

  • 10/24/2014      Exchange proposed claim constructions
  • 12/22/2014      Exchange evidence to support Markman positions
  • 01/09/2015      Opening Markman and Summary Judgment briefs
  • 03/16/2015      Markman Hearing

Anthony Hayes, Chief Executive Officer of Spherix, stated, "The Verizon case, which focuses on a broad spectrum of technologies relating to data communications, is moving swiftly and we look forward to a speedy resolution.  We also believe the Technology Tutorial in the VTech & Uniden cases is a significant step towards the resolution of those cases.  We note that all dates are subject to change without notice.  Litigation is fluid, but we will continue to do our best to keep our shareholders informed."

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:      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

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