Shares Of Straight Path Communications Surge Following 8-K Filing

Shares of

were trading higher by more than ten percent Tuesday morning following an 8-K filing. Straight Path Communication is an intangible asset monetization company with two segments. The first segment, Straight Path Spectrum holds leases and sells fixed wireless spectrum. The second segment, Straight Path IP holds intellectual property. Straight Path IP Group announced on Tuesday it has entered into a confidential license agreement with

which provides for the dismissal of its complaint against Netflix in the United States District Court for the Eastern District of Texas claiming infringement of five of its patents. The terms of the agreements are confidential. Shares of Straight Path Communications were trading higher by 12.70 percent at $9.99 shortly after the opening bell on Tuesday. Shares of Netflix were trading lower by 1.02 percent at $476.05 at the same time.