NEW YORK (TheStreet) -- Shares of Spherix
(SPEX) are up 6.93% to $1.85 on the news its NNPT subsidiary commenced patent litigation against three U.S. based units of Huawei Technologies.
The NNPT complaint alleges that Huawei, a Chinese networking company, infringed on five patents assigned to NNPT, which were developed by Nortel Networks (NRTLQ).
Last month, Spherix commenced patent litigation against Juniper Networks (JNPR), alleging it also infringed on five patents it owns that were developed by Nortel Networks.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts