NEW YORK, Aug. 17, 2016 /PRNewswire/ -- Spherix Incorporated (Nasdaq: SPEX) an intellectual property development company committed to the fostering and monetization of intellectual property and the advancement of technology, today announced that Equitable IP Holdings LLC ("Equitable" or the "Equitable IP Program"), has filed two additional patent infringement lawsuits on the patents Spherix acquired from Rockstar.
In addition to the three new suits filed by Equitable that were announced on August 16th, Spherix is announcing that Equitable subsequently filed two additional cases in the United States District Court for the District of Delaware against:
- Sprint Corporation and Clearwire Corporation; case number: 1:16-cv-00719
- ATN International, Comnet Wireless and Choice Communications; case number: 1:16-cv-00718
The combined market capitalization of the defendants named in the complaints is in excess of $25 billion. The infringement claims relate to U.S. Patent No. RE40,999 ("the '999 patent"), entitled "VLAN Frame Format". The '999 patent is necessary to the practice of an Institute of Electrical and Electronics Engineers ("IEEE") networking standard that supports virtual local area networks (VLANs) on an Ethernet network.
As stated in prior releases, both Equitable and Spherix feel strongly about the opportunity to monetize the value of the patents under the Equitable IP Program. These latest filings bring the total number of infringement cases under this program to six (6) and are a testament to the Companies' accelerated effort to achieve a formidable stream of licensing revenues from these valuable 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.
SOURCE Spherix Incorporated