Charter Communications, Spherix reach agreement to dismiss action filed on Jan 17, 2014

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."

 

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Spherix Incorporated

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