Spherix sues Cisco over "immense" patent infringement

|About: Spherix Incorporated (SPEX)|By:, SA News Editor

Spherix (SPEX) shares are +5.2%, with the move being attributed to the company filing a complaint against Cisco (CSCO +0.8%) over 11 patents.

Historically, Spherix has focused on biotech R&D, but obtained the IP - which was invented by Nortel - following an agreement with the Rockstar consortium that bought the patents from the bankrupt Canadian company.

"The scope of Cisco’s infringement of the asserted patents has been and continues to be immense," Spherix writes. "The vast majority of Cisco’s switching and routing revenue from March 2008 until the present is and has been generated by products and services implementing technology that infringes the asserted patents."