IRVINE, Calif., March 26, 2015 /PRNewswire/ -- Netlist, Inc.
(NASDAQ: NLST), a leading provider of high performance memory
solutions for the cloud computing and storage markets, announced
today that a jury verdict has been reached in Netlist's case
against Diablo Technologies in the United States District Court for
the Northern District of California. The verdict found for
the defendant on the breach of contract, misappropriation of trade
secrets and inventorship counts, while finding for Netlist on the
two trademark counts. After the verdict, Judge Yvonne Gonzalez Rogers ordered briefing to
determine the effect of the jury verdict on the preliminary
injunction entered in January. According to the schedule set
by the judge, briefing will be complete by April 3, with an oral hearing tentatively
scheduled for April 10,
2015.
Netlist intends to vigorously pursue its patent suit against
SanDisk and Diablo related to the
ULLtraDIMM. The verdict in the trade secret case has no effect on
the patent case. The company also intends to request that the
Court correct the verdict as to the breach of contract count, and
to pursue all available appeals.
C.K. Hong, Netlist's Chief
Executive Officer, stated, "There are many steps in IP litigation
and there are often setbacks along the way. We remain
committed to rigorously enforcing our IP to ensure that the value
of our patent portfolio is recognized while bringing to market
innovative solutions for our customers."
About Netlist:
Netlist, Inc. designs and manufactures
high-performance, logic-based memory subsystems for server and
storage applications for cloud computing. Netlist's flagship
products include NVvault® and EXPRESSvault™, a family of
hybrid memory products that significantly accelerate system
performance and provide mission critical fault tolerance, as well
as HyperVault, its next generation hybrid memory solution which is
under development and greatly expands the performance and capacity
of DRAM channel storage. The Company's product offering also
includes HyperCloud®, a patented memory technology that
breaks traditional performance barriers, and a broad portfolio of
industrial Flash and specialty memory subsystems including VLP
(very low profile) DIMMs and Planar-X RDIMMs. Netlist has steadily
invested in and grown its worldwide IP portfolio, which now
includes 88 issued and pending patents in the areas of high
performance memory and hybrid memory technologies.
Netlist develops technology solutions for customer applications
in which high-speed, high-capacity, small form factor and efficient
heat dissipation are key requirements for system memory. These
customers include OEMs and hyperscale datacenter operators that
design and build servers, storage systems and high-performance
computing clusters, engineering workstations and telecommunications
equipment. Founded in 2000, Netlist is headquartered in
Irvine, CA with manufacturing
facilities in Suzhou, People's Republic
of China. Learn more at www.netlist.com.
Safe Harbor Statement:
This news release contains
forward-looking statements regarding future events. These
forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those expected
or projected. These risks and uncertainties include, but are not
limited to, risks associated with the inherent uncertainty of the
litigation process, and we can provide no assurance that our
efforts to mitigate the effects of the jury verdict will be
successful. Other risks and uncertainties are described in the
Company's annual report on Form 10-K filed on March 18, 2014, and subsequent filings with the
U.S. Securities and Exchange Commission made by the Company from
time to time. Except as required by law, Netlist undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
For more information, please contact:
Brainerd Communicators, Inc.
Mike Smargiassi or Jenny Perales
NLST@braincomm.com
(212) 986-6667
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SOURCE Netlist, Inc.