Straight Path Communications, today issued a statement in response to an anonymous internet posting made by holders of short positions in its Class B common stock.
Davidi Jonas, CEO of Straight Path, said, “We understand that there have been allegations raised in an anonymous internet posting by holders of short positions in our stock. We believe that the claims have no merit, and that our licenses were properly renewed for a second ten year term in compliance with applicable FCC rules. We are undertaking efforts to confirm our understanding.”
The Company added that it is prepared and determined to defend its rights against challenges from any source.
Straight Path Communications’ CEO comments
Mr. Jonas concluded, “As evidenced by our recent advocacy at the FCC and in the industry, Straight Path has actively sought to make its licenses useful and beneficial to the U.S. public. With the support of our executive team and leading figures on our Strategic Technology Advisory Board, we participate in regulatory, academic and industry activities, contributing to the development of standards and technology to increase the functionality of our spectrum assets. We are continuing to invest in development of hardware and other solutions to make our spectrum available for current and future applications, and expect to continue to do so for the benefit of the wireless communications industry, the public, and our stockholders.”
About Straight Path Communications Inc.
Straight Path (NYSE MKT: STRP) holds, leases and markets its extensive holdings of 39 GHz and 28 GHz fixed wireless spectrum licenses through its Straight Path Spectrum subsidiary. Straight Path holds, licenses and conducts other business related to certain patents through its Straight Path IP Group subsidiary. Additional information is available on Straight Path’s websites:
Corporate: www.straightpath.com Spectrum: www.straightpath39.com
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 Annual Report on Form 10-K for the fiscal year ended July 31, 2014 and our other periodic filings with the SEC (under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”). 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.