GSI Tech (GSIT) Files Complaint Against Cypress (CY) Over Possible SRAM Market Monopolization
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GSI Technology, Inc. (Nasdaq: GSIT), reports it has filed a a complaint against Cypress Semiconductor Corporation (NYSE: CY) in the United States District Court for the Northern District of California charging Cypress with conducting an unlawful combination and conspiracy to monopolize the market for high-performance static random access memory (SRAM) devices, known as fast synchronous Quad Data Rate (or QDR) SRAMs and Double Data Rate (or DDR) SRAMs.
The complaint alleges that the anti-competitive, collusive and conspiratorial conduct of Cypress and certain co-conspirators has violated Section 1 of the Sherman Act and also constitutes unlawful restraint of trade and unfair competition under applicable provisions of California law.
The complaint seeks treble damages, in an amount to be determined at trial, a preliminary and permanent injunction prohibiting the continuation of the unfair and illegal business practices and recovery of GSI’s attorneys’ fees and costs.
The complaint alleges that the anti-competitive, collusive and conspiratorial conduct of Cypress and certain co-conspirators has violated Section 1 of the Sherman Act and also constitutes unlawful restraint of trade and unfair competition under applicable provisions of California law.
The complaint seeks treble damages, in an amount to be determined at trial, a preliminary and permanent injunction prohibiting the continuation of the unfair and illegal business practices and recovery of GSI’s attorneys’ fees and costs.
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