BETHESDA, MD / ACCESSWIRE / September 4, 2015 / Spherix Incorporated (SPEX) an intellectual property development company committed to the fostering and monetization of intellectual property, today announced that a settlement agreement between Spherix and Verizon was entered into as of August 31, 2015, resolving all outstanding litigation between the two companies. Per the agreement reached by the parties, no commercial terms are disclosed.
Anthony Hayes, Chief Executive Officer of Spherix, stated, "With the Verizon matter behind us, we continue to actively pursue claims in six active lawsuits across multiple jurisdictions. This update is part of our ongoing effort to keep shareholders informed about the status of our pending litigation as we move toward unlocking the value of our formidable portfolio of patents."
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