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Straight Path Files Patent Protection Actions

Straight Path IP Group announced that it has asked the United States International Trade Commission (ITC) and courts to halt the importation and sale of Blu-ray Disc players, set-top boxes and other electronic devices from a number of manufacturers.

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Unedited press release follows:

Straight Path IP Group Files Patent Protection Actions Against Electronics Firms

GLEN ALLEN, Va. — Straight Path IP Group, Inc. (SPIPG), a subsidiary of Straight Path Communications Inc. (NYSE MKT: STRP), announced today that it has filed patent protection actions with the United States International Trade Commission (ITC) against some of the most widely recognized names in electronics including LG, Panasonic, Sony, Toshiba, Sharp, and Vizio.

SPIPG asked the ITC to halt the importation and sale of the manufacturers’ infringing products in the United States. Examples of infringing products include smartphone handsets, tablet computers, eReaders, smart TVs, gaming consoles, Blu-ray players, and set-top boxes.

“We intend to vigorously and tenaciously defend our IP across industry verticals, wherever our technology is being used without license. We owe it to our stockholders to prevent infringement of our IP,” said David Jonas, Straight Path IP Group’s Chief Executive Officer.

Jonathan Rand, Straight Path’s Chief Financial Officer, said, “The strategic importance of our IP and the strength of the underlying patents enables us to structure our patent defense program to minimize our current expenditure levels while maintaining very significant upside potential for our stockholders.”

SPIPG’s complaint targets both domestic and foreign entities that SPIPG believes are infringing its patents.

SPIPG also filed actions simultaneously in the U.S. District Court for the Eastern District of Virginia against substantially the same parties.

About Straight Path Communications Inc. (SPCI):
SPCI (NYSE MKT: STRP) leases its extensive holdings of 39 and 28 GHz fixed wireless spectrum licenses through its Straight Path Spectrum subsidiary. SPCI holds and licenses certain patent rights through its Straight Path IP Group subsidiary.