Cautionary Language Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding Unwired Planet's expectations regarding its plans and strategic direction. All statements other than statements of historical fact contained in this press release are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause Unwired Planet's actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. These forward-looking statements are subject to a number of risks, including the ability of Unwired Planet to realize anticipated results of its plan and strategy, the ability of Unwired Planet to implement and execute its plan and strategy, and to be successful in any related litigation as well as those risk factors discussed in filings with the U.S. Securities and Exchange Commission ("SEC"), including but not limited to the Company's Annual Report on Form 10-K filed on September 9, 2013, and any subsequently filed reports on Forms 10-Q and 8-K. Unwired Planet undertakes no duty to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.
Unwired Planet, Inc. (NASDAQ: UPIP), through its Nevada-based subsidiary, Unwired Planet LLC, today announced it has filed a patent infringement complaint against Square, Inc. in the U.S. District Court for the District of Nevada. The suit was filed by Unwired Planet to protect the Cloud & Services portion of its intellectual property (IP) licensing business. In the complaint filed in Reno, Nevada, Unwired Planet charges Square with infringing three of its patents related to location-based services and mobile payments. "Square generates substantial revenues from mobile payment technology that relies on the intellectual property that Unwired Planet developed and patented many years ago. We are seeking reasonable compensation for continued use of this technology. While our first choice is to reach a licensing arrangement without litigation, we have determined that enforcement is necessary in this instance," said Phil Vachon, chairman of Unwired Planet. Unwired Planet has partnered with Morgan Lewis under an alternative fee arrangement. The arrangement involves a combination of fixed and success payments which begin the first quarter of the company’s fiscal year 2015. The patents asserted against Square in this matter are:1. United States Patent No. 7,711,100, entitled "System and Method for Controlling Financial Transactions Over a Wireless Network," asserted against Square Wallet. This patent generally relates to location-based, financial transactions made by wireless devices.2. United States Patent No. 7,376,433, entitled "Subscriber Delivered Location-Based Services," asserted against Square Wallet. This patent generally relates to location-based merchant selection and transactions made by wireless devices.3. United States Patent No. 8,275,359, entitled "Wireless User Based Notification System," asserted against Square Wallet and Square Register. This patent generally relates to location-based mobile device notifications. About Unwired Planet Unwired Planet, Inc. (NASDAQ: UPIP) is the inventor of the Mobile Internet and a premier intellectual property company focused exclusively on the mobile industry. The Company's patent portfolio of more than 2,400 issued US and foreign patents, includes the technologies that allow mobile devices to connect to the Internet and enable mobile communications. The portfolio spans 2G, 3G and 4G technologies, as well as cloud-based mobile applications and services. Unwired Planet's portfolio includes patents related to key mobile technologies, including baseband mobile communications, mobile browsers, mobile advertising, push technology, maps and location based services, mobile application stores, social networking, mobile gaming and mobile search. Unwired Planet is headquartered in Reno, Nevada