A pretrial conference for Spherix's (SPEX +3.4%) infringement suit against Verizon is set for Sep. 10, and pre-trial discovery is to be completed by Dec. 12. The trial itself will start 4-8 weeks after the final pre-trial conference, which is set for Dec. 18.
Spherix is asserting Nortel patents obtained through its deal with the Rockstar Consortium. The company claims Verizon's Internet services, including its FiOS and VoIP offerings, infringe the patents.
Worlds (OTCQB:WDDD -15.3%), Spherix (SPEX -5.8%) and Marathon Patent Group (MARA -3.6%) have sold off after a federal appeals court ruled against Vringo in its IP suit against Google, arguing the patent claims it has asserted are invalid due to obviousness.
Notably, the court referenced a recent Supreme Court ruling that upheld the patentability of software concepts that advance or improve upon existing ideas, but also declared mere abstract software ideas on a computer can't be patented.
Spherix is still well above where it traded before an AT&T settlement was disclosed on Monday.
In a closely-watched case, the Supreme Court has upheld the patentability of software concepts, albeit while setting limits: Companies can't patent a mere abstract idea on a computer, but can patent software ideas that advance or improve upon existing ideas.
The ruling comes a month after Sen. Pat Leahy shelved a hotly-contested bill aimed at limiting the power of patent trolls. Many tech giants and startups backed the bill, while IP licensing firms staunchly opposed it.
A few licensing firms are trading lower on a moderately down day for tech: VRNG -2.2%. ACTG -1.3%. VHC -2.8%. PRKR -3.8%. SPEX -3.1%.
Spherix (SPEX +3.2%) is suing Huawei in an Eastern Texas district court, alleging its switches/routers infringe 5 Spherix patents originally developed by Nortel Networks. The patents were obtained through Spherix's deal with the Rockstar Consortium.
Spherix sued Cisco in March, alleging infringement of 11 ex-Nortel patents.
Spherix (SPEX -38.7%) contracts with Laidlaw & Co. for a private placement of 10M shares of Series J Convertible Preferred Stock at $2/share. Each share of preferred is convertible into one share of common. Net proceeds of ~$18.3M will be used to redeem some of its Series I Convertible Preferred Stock and for general corporate purposes. Closing date is June 2.