Shares Of Straight Path Communications Surge Following 8-K Filing

Shares of Straight Path Communications (NASDAQ: STRP) were trading higher by more than 10 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 Netflix (NASDAQ: NFLX), which provides for the dismissal of its complaint against Netflix in the U.S. 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 6.5 percent at $9.44. Shares of Netflix were trading lower by 0.4 percent at $479.02.

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