BETHESDA, Md., July 9, 2015 /PRNewswire/ -- Spherix Incorporated (Nasdaq: SPEX) -- an intellectual property development company committed to the fostering and monetization of intellectual property, today provided a litigation update regarding NNTP v. Huawei, Case No. 2:14-cv-00677-JRG-RSP, in the United States District Court for the Eastern District of Texas.
The Markman hearing for the case involving the company's wholly owned subsidiary, NNTP, LLC ("NNTP"), against Huawei Device USA Inc., Huawei Technologies USA Inc., Huawei Technologies Cooperatif U.A. and Futurewei Technologies, Inc. (collectively "Huawei") remains scheduled for July 17, 2015, and the trial remains set to begin on February 8, 2016.
The complaint against Huawei which was initiated in June 2014, alleges that the majority of Huawei's revenue from at least January 1, 2011 until the present is, and has been, generated by products and services implementing technology that infringes the patents developed by Nortel Networks and acquired by Spherix in December 2013. The patented technology relates to routers and switches sold by Huawei that move data across a network.
Anthony Hayes, Chief Executive Officer of Spherix, stated, "We continue to make progress in our efforts to enforce and protect our intellectual property rights and look forward to presenting our case to the court in this upcoming hearing. We are concurrently moving forward with multiple cases, involving dozens of patents, as we work to create lasting shareholder value."
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