Spherix Incorporated Sues Cisco on Infringements of 11 Patents and BlackBerry CEO Optimistic about Turnaround
Spherix Incorporated (NASDAQ: SPEX) shares fell to a new yearly low of $2.90 on Friday after news revealed that the intellectual property purchasing company is moving forward with its lawsuit against Cisco Inc. In its lawsuit against Cisco, Spherix Incorporated alleges that the majority of Cisco's revenues from routing and switching ($43 billion since March 2008, $9 billion in 2013) can be attributed to 11 patents that Spherix bought from Canadian tech company Nortel Networks Corp. in December 2013. Nortel declared bankruptcy in 2008. Spherix believes that the vast majority of Cisco's