Netlist (NLST) Files Patent Infringement Against SK Hynix
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Netlist, Inc. (NASDAQ: NLST), today announced it has filed legal proceedings for patent infringement against SK hynix in the United States International Trade Commission (ITC) and the U.S. District Court for the Central District of California. The proceedings were based on the infringement of six Netlist patents by SK hynix RDIMM and LRDIMM enterprise memory products. Netlist has been in discussions with SK hynix since last year to license Netlist's intellectual property.
"Today's actions were taken only after we made extensive and prolonged efforts to reach a fair and equitable resolution without litigation," said C.K. Hong, Chairman and CEO of Netlist. "As we now face the prospects of the infringement continuing indefinitely, we believe that litigation is necessary to defend our intellectual property rights. While we remain willing to negotiate a resolution which fairly compensates Netlist and its shareholders for our valuable intellectual property, we remain confident in the strength of our case and are fully prepared to proceed through the complete legal process to achieve a successful outcome."
Netlist has asserted a total of six patents in the ITC and district court actions: U.S. Patent Nos. 8,756,364, 8,516,185, 8,001,434, 8,359,501, 8,689,064, and 8,489,837. Netlist is seeking an exclusion order in the ITC that directs U.S. Customs and Border Protection to stop infringing SK hynix RDIMM and LRDIMM products from entering the U.S. ITC investigations proceed on an expedited basis, commonly progressing to trial within a year with an Initial Determination from the Administrative Law Judge issued a few months later. A Final Determination commonly issues within 17 months after filing. In the district court proceedings, Netlist is primarily seeking damages although this action will likely remain stayed until the ITC action reaches its conclusion.
Netlist is represented by its legal counsel DLA Piper which is one of the largest law firms in the world and its team of attorneys has extensive experience in the ITC and district court.
Additional information regarding this announcement can be accessed in the Investor's section of Netlist's website at www.netlist.com.
The Company will hold a conference call regarding this announcement at 11:00am ET on September 1, 2016. To access the call in the U.S., please dial (844) 836-8742, and for international callers dial (412) 317-5443, approximately 10 minutes prior to the start of the conference call. A live webcast and archived replay of the call can be accessed in the Investor's section of Netlist's website at www.netlist.com.
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