SUNNYVALE, CA — (Marketwired) — 05/02/13 — (NASDAQ: GSIT) today commented on the status of ongoing patent litigation with Cypress Semiconductor Corporation.
As previously announced, on October 25, 2012, Chief Administrative Judge Charles E. Bullock issued his initial determination in which he found that our SRAM devices, and products containing them, do not infringe the four patents asserted against GSI and others in the ITC proceeding and that Cypress had failed to establish the requisite domestic industry that practices those patents. That determination, as well as a supplemental determination finding the asserted patents not to be invalid, are currently under review by the full Commission. The target date for concluding the ITC investigation is June 25, 2013.
“We believe that Judge Bullock-s initial determination of non-infringement was correct and that it will be upheld by the full Commission,” said Lee-Lean Shu, GSI-s President and Chief Executive Officer. “We look forward to a successful conclusion of the ITC litigation.”
In addition to the ITC proceeding, a lawsuit alleging infringement by GSI products of five Cypress patents (including three of the four patents asserted in the ITC complaint) is currently pending in the United States District Court for the District of Minnesota. That case has been stayed pending the conclusion of the ITC proceeding.
Just yesterday, Cypress filed yet another lawsuit alleging infringement of five additional patents in the United States District Court for the Northern District of California. Like the Minnesota case, the new complaint seeks unspecified damages for past infringement and a permanent injunction against future infringement.
“We have just received a copy of the new complaint, and have begun our investigation of Cypress- latest claims,” said Shu. “As we have demonstrated over the past two years, we are committed to defending this type of litigation vigorously. We will comment further once we have completed our preliminary review of Cypress- claims. We note, however, that the timing of the most recent filing would appear to signal Cypress- lack of confidence in the outcome of the ITC proceeding and the pending Minnesota case, and the impact of potential GSI victories on its strategy of intimidating our customers through the distraction of litigation. We continue to believe that we have the most advanced technology in the SRAM market and that, ultimately, we will be successful competing with Cypress on the basis of our superior technology and product performance.”
Founded in 1995, GSI Technology, Inc. is a leading provider of high performance static random access memory, or SRAM, products primarily incorporated in networking and telecommunications equipment. Headquartered in Sunnyvale, California, GSI Technology is ISO 9001 certified and has worldwide factory and sales locations. For more information, please visit .
GSI Technology, Inc.
Douglas M. Schirle
CFO
408-331-9802
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