Straight Path IP Group Expands Scope of Patent Protection Actions

Straight Path IP Group Expands Scope of Patent Protection Actions

Damages Sought from Additional Major ElectronicManufacturers

GLEN ALLEN, Va.--(BUSINESS WIRE)-- 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 against, and is seeking damages from, Blackberry, Huawei, Samsung, and ZTE.

"These actions broaden the scope of our effort to protect our intellectual property rights by seeking redress from additional equipment manufacturers whose products infringe upon our technology," said David Jonas, Straight Path's Chief Executive Officer.

SPIPG seeks damages on the sale of the electronics manufacturers' alleged infringing products including smartphone handsets, tablet computers, smart TVs, Blu-ray players, and set-top boxes. The cases were filed in the District Court for the Eastern District of Texas.

Earlier this month, SPIPG filed patent protection actions with the United States International Trade Commission against some of the most widely recognized names in electronics including LG, Panasonic, Sony, Toshiba, Sharp, and Vizio.

Also earlier this month, SPIPG filed patent infringement actions seeking damages and injunctive relief from telecommunications providers, Inc., Telesphere Networks Ltd., and Vocalocity, Inc., in the U.S. District Court for the Eastern District of Virginia.

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.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent Form 10 filing (under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

Straight Path Communications Inc.
Jonathan Rand, 804-433-1528

KEYWORDS:   United States  North America  Virginia


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