New Patent Infringement Lawsuit Filed Against Alcatel-Lucent Under Spherix Collaboration Agreement

NEW YORK, Dec. 5, 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 as part of its previously announced collaboration with Equitable IP Holdings LLC ("Equitable" and the "Equitable IP Program"), Equitable has filed an additional lawsuit for the infringement of valuable patent assets formerly owned by Nortel Networks.

The Equitable IP Program is designed to cost-effectively and rapidly monetize a portion of Spherix's patent portfolio.  As part of this agreement, Spherix and Equitable brought together key leadership from among investment fund managers, patent litigation experts and patent monetization strategists to monetize these valuable assets.

The new lawsuit was filed in the U.S. District Court for the District of Delaware against Alcatel-Lucent S.A. and Alcatel-Lucent USA, Inc., which are the French and U.S. entities, respectively.  The following five patents formerly owned by Nortel are asserted in the lawsuit:

The products presently accused of infringement in this new lawsuit include the following Alcatel-Lucent

1626 and 1850 Light Managers   
1643 Access Multiplexer and 1643 Access Multiplexer Small    
1663 Add Drop Multiplexer (ADM-Universal)    
1665 Data Multiplexer Extend DMXtend    
1850 TSS-320 transport switch    
5620 Service Aware Manager    
7210 Service Access Switch    
7450 ESS Ethernet service switch    
7705 Service Aggregation Router   
7750 Service Router or mobile gateway    
7950 Extensible Routing System (XRS)  
AnyMedia Access System    
OmniSwitch series switches    
Optical service routers 7750 SR    
VPN Firewall Brick 150

Anthony Hayes, Chief Executive Officer of Spherix, stated, "We are pleased to announce this new litigation as part of our continuing objective to expand our monetization efforts under the Equitable IP Program. We believe there is widespread infringement of each of these patents and we look forward to additional steps towards value creation.  We will continue to work to bring value for our shareholders, and we anticipate more infringement cases in the very near future."

About Spherix    
Spherix Incorporated was launched in 1967 as a scientific research company. Spherix is committed to advancing innovation and technology, by active participation in the litigation market.  

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," "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.

Contact:

Investor Relations:         Hayden IR     
                                    Brett Mass, Managing Partner    
                                    Phone: (646) 536-7331    
                                    Email: [email protected]    
                                    www.haydenir.com

Spherix:                        Phone: (703) 992-9325     
                                    Email: [email protected]    
                                    www.spherix.com

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SOURCE Spherix Incorporated

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