Spherix To Continue With Its Legal Action Against Cisco - Quick Facts

(RTTNews) - Scientific research company Spherix Inc. (SPEX), Thursday said its lawsuit initiated on March 24, 2014, against Cisco Systems Inc. (CSCO) for infringement of multiple U.S. patents bought from the Rockstar Consortium remains active. The company said it would continue to take legal remedies to enforce its intellectual property rights.

The patent litigation filed in the United States District Court for the District of Delaware against Cisco, alleges that the company infringes 11 patents owned by Spherix. These patents, purchased by Spherix from Rockstar in December 2013, relate to Cisco's products, including routers and switches. According to Spherix, the vast majority of Cisco's switching and routing revenue from March 2008 through the present has been achieved through products and services implementing technology, which the company believes infringes on the 11 patents.

Anthony Hayes, CEO of Spherix, commented: "As stated in Cisco's most-recent quarterly earnings call, and reported in the Wall Street Journal, Cisco has signed a term sheet and taken a $188 million pre-tax charge related to litigation brought by Rockstar. Our litigation is not part of this settlement. We continue to aggressively pursue enforcement of our portfolio of patents, including our case against Cisco."