Netlist (NLST) Rocketing Higher on Settlement of Patent Lawsuits with MetaRAM
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Shares of Netlist (Nasdaq: NLST) have surged nearly 20% in the last hour of trading as the company issued a release announcing that it has reached a settlement in the patent infringement lawsuits with San Jose, CA-based MetaRAM, Inc. The settlement resolves a dispute between the two companies concerning the use of proprietary memory modules, power management operations and other related technology.
Under the terms of the settlement, filed in U.S. District Courts in Delaware and Northern California, MetaRAM will not sell, offer to sell, release, or commercialize the MetaRAM DDR3 controllers in the U.S. or outside the U.S. Netlist contended that MetaRAM's DDR3 controllers and memory modules incorporating such controllers infringed its U.S. Patent No. 7,289,386, entitled "Memory Module Decoder." A provision in the settlement protects Netlist if another company purchases MetaRAM's patent and attempts to seek action against Netlist in the future.
"We are pleased to have successfully resolved this case," said C.K. Hong, President and CEO of Netlist. "As the pioneer of this technology, the results of this settlement clearly underscore Netlist's fundamental patent and product leadership. Netlist's HyperCloud product-line embodies this foundational technology and Netlist remains committed to protecting its portfolio of intellectual property."
Under the terms of the settlement, filed in U.S. District Courts in Delaware and Northern California, MetaRAM will not sell, offer to sell, release, or commercialize the MetaRAM DDR3 controllers in the U.S. or outside the U.S. Netlist contended that MetaRAM's DDR3 controllers and memory modules incorporating such controllers infringed its U.S. Patent No. 7,289,386, entitled "Memory Module Decoder." A provision in the settlement protects Netlist if another company purchases MetaRAM's patent and attempts to seek action against Netlist in the future.
"We are pleased to have successfully resolved this case," said C.K. Hong, President and CEO of Netlist. "As the pioneer of this technology, the results of this settlement clearly underscore Netlist's fundamental patent and product leadership. Netlist's HyperCloud product-line embodies this foundational technology and Netlist remains committed to protecting its portfolio of intellectual property."
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