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Spherix Announces Settlement; Huawei Takes A License

The following excerpt is from the company's SEC filing.

BETHESDA, MD, October 19, 2015 /Accesswire/ 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 case involving the company's wholly owned subsidiary, NNPT, LLC (“NNPT”), against Huawei.

Spherix announced that Huawei and the Company have settled the litigation, and Huawei has taken a license. As of October 13, 2015, all documents necessary to resolve this matter have been executed. As part of the settlement, at the joint request of the parties, the Patent Trial and Appeal s Board (“PTAB”) terminated Huawei’s two Inter Partes Re-examination (“IPR”) petitions in IPR case no. IPR2015-01382 involving U.S. Patent No. 6,578,086 and IPR2015-01390 involving U.S. Patent No. 7,664,123. Dismissal papers requesting dismissal of the litigation will be filed in Court in due course. On October 16, 2015, the Eastern District of Texas, which presides over the case, held a status hearing at which the parties reported the execution of the settlement.

Anthony Hayes, Chief Executive Officer of Spherix, stated, “We are pleased to have settled the matter with Huawei. We continue to...