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Spherix Provides Litigation UpdateBETHESDA, Md., March 4, 2015 /PRNewswire/ -- Spherix Incorporated (NASDAQ: SPEX) -- an intellectual property development company committed to the fostering and monetization of intellectual property, today provided an update on certain of the Company's legal proceedings as they relate to the pursuit of legal remedies to enforce its intellectual property rights and stop unauthorized use of patented technology, including its claim against Verizon. Anthony Hayes, Chief Executive Officer of Spherix, stated, "Continued progress is being made as we pursue enforcement of patent protections provided by the well-known Nortel patents. Our next major milestone is the March 16, 2015 Markman hearing in our case against Verizon, which is ahead of a five-day trial for the case scheduled to begin on May 18, 2015. We are making strides in our efforts to seek remedies to the violation of our intellectual property rights associated with technologies that either have been or are currently deployed in technological infrastructures around the country." The Company also provided the following updates regarding the Verizon case and certain other pending litigations. Update on Certain Other Litigation Matters
Spherix Incorporated was launched in 1967 as a scientific research company. Through the Company's acquisition of patents and patent application developed by Nortel Networks Corporation from Rockstar Consortium US. LP and Harris Corporation from North South Holdings Inc. in 2013, the Company has expanded its activities and is a significant owner of intellectual property assets. 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," "scheduled" "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. Investor Relations Contact: Spherix Contact: Logo - http://photos.prnewswire.com/prnh/20131104/PH08853LOGO To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/spherix-provides-litigation-update-300045077.html SOURCE Spherix Incorporated |