BETHESDA, Md., Feb. 4, 2016 /PRNewswire/ -- Spherix Incorporated (Nasdaq: SPEX) -- an intellectual property development company committed to the fostering and monetization of intellectual property, today provided an update on the Company's cases against VTech and Uniden in the Northern District of Texas and announcing that those litigations are moving forward.
The cases against VTech and Uniden have been stayed since September 10, 2015, pending the outcome of two Inter Partes Re-examination ("IPR") proceedings that VTech and Uniden filed in the U.S. Patent Office. The IPR was initiated on only certain claims of two of the patents that Spherix has asserted ("asserted claims"). Other patents asserted against these defendants were not part of the IPR and not impacted by the IPR decision.
On February 3, 2016, the Patent Trial and Appeals Board ("PTAB") issued its final decisions in the IPR proceedings, finding invalid a portion of the claims of U.S. Patent No. 5,581,599 ("the '599 Patent") and all asserted claims of U.S. Patent No. 6,614,899. Spherix may file a Notice of Appeal of the PTAB's decision by April 6, 2016. The deadline for VTech and Uniden to raise any other challenges to the asserted claims in the PTAB has passed.
Following the PTAB's decision, three patents will remain asserted in the district court litigations against VTech. They are U.S. Patent Nos. 5,892,814; 6,965,614 ("the '614 Patent") and portions the '599 Patent. The '614 Patent and the '599 Patent will also remain asserted against Uniden. The parties must file a status report with the District Court by February 15, 2016, so that the stay of the case may be lifted and litigation may proceed.
Anthony Hayes, Chief Executive Officer of Spherix, stated, "We are pleased to get our litigations against VTech and Uniden back underway. With most of the discovery already completed and a favorable Markman opinion by the Court, we are confident in the merits of these cases. We disagree with the PTAB's decision, but are eager to continue these litigations unimpeded by any further IPR challenges."
Spherix is committed to advancing innovation by active participation in all areas of the patent market. Spherix draws on portfolios of pioneering technology patents to partner with and support product innovation. Spherix has acquired over 100 patents from Rockstar Consortium Inc., and several hundred patents issued to Harris Corporation, covering a variety of methods and components involved in switching, routing, networking, optical and telecommunication sectors.
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