BETHESDA, Md., June 11, 2014 /PRNewswire/ -- Spherix
Incorporated (NASDAQ: SPEX) -- an intellectual property development
company committed to the fostering and monetization of intellectual
property, today announced that Spherix and Charter Communications,
Inc., Wideopenwest Finance LLC a/k/a Wow! Internet, Cable &
Phone, Knology, Inc., Cequel Communications, LLC, d/b/a Suddenlink
Communications, and Cable One, Inc., (collectively "Plaintiffs")
filed a joint stipulation of dismissal in the action filed on
January 17, 2014.
As a result, the Plaintiffs' allegations against the Company are
dismissed without prejudice, with each party to bear its own costs.
The Plaintiffs and Spherix also agreed, with respect to all patents
owned by Spherix as of the date of the filing, to negotiate in good
faith prior to bringing any action concerning these patents or
bringing an action for infringement of these patents. The
parties agreed that any further actions related to these patents
will be brought solely in Delaware.
Anthony Hayes, Chief Executive
Officer of Spherix, stated, "Spherix remains committed to
negotiating in good faith in all cases, and this joint agreement
underscores this core value. We are pleased to have reached this
agreement to dismiss the action and we will work to secure a
long-term understanding with the Plaintiffs in a responsible
way."
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.
Investor Relations Contact:
Hayden IR
Brett Mass
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
Spherix Contact:
Phone: (703) 992-9325
Email: info@spherix.com
www.spherix.com
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SOURCE Spherix Incorporated