Spherix Provides Update on Litigation vs. VTech, Uniden and Verizon

BETHESDA, Md., March 30, 2015 /PRNewswire/ -- Spherix Incorporated (Nasdaq: SPEX) -- an intellectual property development company committed to the fostering and monetization of intellectual property, today provided an update regarding Spherix v. VTech, Case No. 3:13-cv-03494-M and Spherix v. Uniden, Case No. 3:13-cv-03496-M, both in the United States District Court for the Northern District of Texas and an update regarding Spherix v. Verizon, Case No. 1:14-cv-00721-GBL-TCB, in the United States District Court for the Eastern District of Virginia.

Concerning the company's cases against VTech and Uniden, on March 19, 2015, the honorable Barbara M. G. Lynn issued a 106-page claim construction order, following the Markman Hearing which had been held on November 21, 2014. The court's order creates various discovery deadlines under the scheduling order. Most notably, the order set deadlines for the close of both fact and expert discovery.     

Concerning the company's case against Verizon, the trial date has been rescheduled from May 18, 2015 to August 10, 2015 at the request of the Judge, who has rescheduled all trials for the month of May.

Anthony Hayes, Chief Executive Officer of Spherix, stated, "The detailed schedules for our cases against VTech and Uniden have come into focus with the judge's order. Our litigation against Verizon also continues to progress. As with any litigation, dates are subject to change, but we remain committed to updating shareholders on our monetization efforts. Step by step, these cases are progressing forward and we continue to pursue enforcement of our intellectual property rights associated with our patent portfolio."

About Spherix

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.

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.

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SOURCE Spherix Incorporated

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