NETWORK-1 TECHNOLOGIES INC

For a description of our legal proceedings see Note I to our unaudited condensed consolidated financial statements included in this Quarterly Report and Item 3. Legal Proceedings of our Annual Report on Form 10-K for the year ended December 31, 2023 (filed with the SEC on March 8, 2024). During the three months ended March 31, 2024 and to date, no material events occurred with respect to our legal proceedings, except (i) with respect to our litigation with Netgear, on February 20, 2024, the Appellate Division of the Supreme Court, State of New York, First Department, upheld the lower court ruling dismissing our complaint and granted our motion to dismiss Netgear’s counterclaim for breach of the most favored license provision concerning two licensees, but said there was a triable issue of fact as to a third licensee. On March 17, 2024, we entered into a settlement agreement with Netgear and exchanged general releases ending the litigation (see Note I[3] to our unaudited condensed consolidated financial statements included herein); and (ii) On April 24, 2024, in connection with our patent infringement litigation against Google Inc and You Tube, LLC, the U.S. District Court for the Southern District of New York issued a judgment dismissing our patent infringement claims finding that the asserted claims of two of the patents are invalid for indefiniteness and granting summary judgment that the asserted claims of another asserted patent are not infringed by Google’s accused system. The Court’s ruling disposes of all of our claims in the case. We are evaluating our alternatives, including an appeal of the Court’s rulings to the U.S. Court of Appeals for the Federal Circuit (see Note I[1] to our unaudited condensed consolidated financial statements included herein).