GLEN ALLEN, Va., Jan. 13, 2014 /PRNewswire/ -- Straight Path IP Group, Inc. (SPIPG), a subsidiary of Straight Path Communications Inc. (NYSE MKT: STRP), announced that it has entered into a settlement with Bandwidth.com, Inc. of pending litigation proceedings in the United States District Court for the Eastern District of Virginia involving Straight Path IP Group's patent portfolio relating to communications over a network.
Straight Path IP Group is a communications technology licensing company, headquartered in Glen Allen, VA. Straight Path IP Group's patent portfolio includes U.S. and international patents. The parties have agreed not to disclose the specific terms of the agreement.
About Straight Path Communications:
Straight Path (NYSE MKT: STRP) holds, leases, and markets its extensive holdings of 39 and 28 GHz fixed wireless spectrum licenses through its Straight Path Spectrum subsidiary. Straight Path holds, licenses, and conducts other business related to certain patents through its Straight Path IP Group subsidiary. Additional information is available on Straight Path's website: http://spathinc.com/
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent Form 10 filing (under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.
Straight Path Communications Inc.
Jeffrey Goldberger / Rob Fink
KCSA Strategic Communications
Phone: 212-896-1249 / 212-896-1206
SOURCE Straight Path Communications Inc.