IRVINE, Calif., Dec. 13, 2016 /PRNewswire/ -- Netlist, Inc.
(NASDAQ: NLST), today announced it has named Mintz, Levin, Cohn,
Ferris, Glovsky and Popeo, P.C. (Mintz Levin) as its lead legal
counsel in the 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
(CDCA). DLA Piper, who has represented Netlist in these
actions, was recently disqualified due to a conflict of
interest.
"We are pleased to be working with Mintz Levin in these
proceedings and look forward to addressing SK hynix's ongoing and
widespread infringement," said C.K.
Hong, Chairman and CEO of Netlist. "The Boston-based IP litigation team at Mintz Levin
is a prominent, plaintiff-focused group with deep expertise in the
ITC. Mintz Levin has been working with us for a number of
weeks and has already entered an appearance on our behalf in the
ITC and CDCA."
ITC investigations proceed on an expedited basis. The ITC
recently issued a schedule for the case, setting a trial date for
May 8, 2017 which was earlier than
anticipated and a final initial determination of this case no later
than October 10, 2017. Netlist
has also reached a financial arrangement with Mintz that is similar
to what was in place with DLA.
In October 2016 the ITC instituted
an investigation of the unfair trade practices of SK hynix related
to its importation, sale for importation, and/or sale after
importation of RDIMM and LRDIMM enterprise memory products.
The ITC will determine over the course of the investigation whether
these SK hynix products should be banned from importation into
the United States by reason of
infringement of six Netlist patents. Netlist has asserted the
following six patents in the ITC as well as the U.S. District Court
for the Central District of California: U.S. Patent Nos. 8,756,364,
8,516,185, 8,001,434, 8,359,501, 8,689,064, and 8,489,837.
Additional information regarding this announcement can be
accessed in the Investor's section of Netlist's website at
www.netlist.com.
About Netlist, Inc.
Netlist creates solutions that
accelerate turning raw data into business insight. The company
produces next generation persistent memory solutions that enable
businesses to transact quicker, gain insight faster and reduce
datacenter cost. Flagship products NVvault® and EXPRESSvault®
accelerate system performance and provide mission critical fault
tolerance. HybriDIMM™, Netlist's next-generation Storage
Class Memory, lowers cost and improves performance of big data
analytics and in-memory computing. The company holds a portfolio of
patents, many seminal, in the area of hybrid memory, storage class
memory, rank multiplication and load-reduction, among others.
Netlist is part of the Russell Microcap® Index. To learn
more, visit www.netlist.com.
Safe Harbor Statement:
This news release contains
forward-looking statements covered by the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements other than historical
facts that often address future events or the future performance of
Netlist. These forward looking statements include statements
relating to the strength and outcome of the legal proceedings and
the expected timing of the ITC action. A forward‑looking
statement is neither a prediction nor a guarantee of future events
or circumstances and is based on currently available market,
operating, financial and competitive information and assumptions.
Forward-looking statements involve known and unknown risks and
uncertainties that could cause actual results to differ materially
from those expected or projected, including, among others, changes
in and uncertainty of customer acceptance of and demand for our
existing products and technologies and our products under
development; risks associated with the concentration of product
sales among a limited number of customers; the success of product,
licensing and joint development partnerships; continuing
development, qualification and volume production of HybriDIMM™,
EXPRESSvault™, and NVvault®; the timing and magnitude of the
continued decrease in our sales; our ability to leverage our
NVvault® and EXPRESSvault™ technology in a more diverse customer
base; our need to raise additional capital and our ability to
obtain financing as and when necessary; the rapidly-changing nature
of technology in our industry; risks associated with intellectual
property, including patent infringement litigation against us as
well as the costs and unpredictability of litigation over
infringement of our intellectual property and the possibility of
our patents being reexamined or reviewed by the United States
Patent and Trademark Office and the Patent Trial and Appeal Board;
volatility in the pricing of components of our products;
uncertainty of and/or delays in product orders and product
qualifications; delays in our and our customers' product releases
and development; introductions of new products by competitors;
changes in end-user demand for technology solutions; our ability to
attract and retain skilled personnel; our reliance on suppliers of
critical components and vendors in the supply chain; evolving
industry standards; the political and regulatory environment in
the People's Republic of China;
and general economic and market conditions. Other risks and
uncertainties are described in our annual report on Form 10-K filed
on March 4, 2016, and subsequent
filings with the U.S. Securities and Exchange Commission we make
from time to time, including our quarterly reports on Form 10-Q.
Except as required by law, we undertake 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/Sharon Oh
NLST@braincomm.com
(212) 986-6667
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SOURCE Netlist, Inc.