IRVINE, Calif., July 26, 2017 /PRNewswire/ -- Netlist, Inc.
(NASDAQ: NLST), today announced the U.S. Court of Appeals for the
Federal Circuit vacated and remanded earlier decisions from the
U.S. Patent Trial and Appeal Board (PTAB) which invalidated certain
claims of Netlist's U.S. Patent Numbers 7,881,150 ("'150 Patent")
and 8,081,536 ("'536 Patent").
The '150 and '536 Patents cover fundamental load reduction
technologies used in various server memory products such as Load
Reduced Dual Inline Memory Modules (LRDIMMs). In its ruling,
the Federal Circuit sided with Netlist on two of the three issues
raised on appeal, finding the PTAB's earlier decisions were based
on an erroneous interpretation of the patent claims. The
Federal Circuit vacated the earlier decisions and remanded the
cases back to the PTAB for further proceedings.
"We are very pleased with today's ruling from the Federal
Circuit. The strength of the company's intellectual property
reflects the early ground-breaking work of Netlist's engineers in
high-performance server memory, such as the load reduction
technology at issue in this case," said Netlist Chief Executive
Officer, C.K. Hong. "This victory
continues the exceptional track record that our legal team has
built defending Netlist patents in challenges before the PTAB."
Netlist has asserted these patents against SanDisk and Diablo
Technologies as part of a seven-patent lawsuit in the U.S. District
Court of the Northern District of California against the ULLtraDIMM
product. The defendants in that action filed multiple Inter
Partes Reviews ("IPRs") against all seven asserted patents.
Netlist ultimately prevailed in the final written decisions from
IPRs in five of the seven patents, with negative decisions only on
the '150 and '536. Yesterday's Federal Circuit ruling vacates
the negative decisions as to the IPRs filed by Diablo.
Appeals from IPRs filed by SanDisk are still pending before the
Federal Circuit.
About Netlist, Inc.
Netlist is a leading provider of
high-performance modular memory subsystems serving customers in
diverse industries that require superior memory performance to
empower critical business decisions. Flagship products NVvault® and
EXPRESSvault® enable customers to accelerate data running through
their servers and storage and reliably protect enterprise-level
cache, metadata and log data by providing near instantaneous
recovery in the event of a system failure or power outage.
HybriDIMM™, Netlist's next-generation storage class memory product,
addresses the growing need for real-time analytics in Big Data
applications and in-memory databases. Netlist holds a portfolio of
patents, many seminal, in the areas of hybrid memory, storage class
memory, rank multiplication and load reduction. 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 within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements other than historical facts and often
address future events or the future performance of Netlist.
Forward-looking statements contained in this news release include
statements about Netlist's ability to execute on its strategic
initiatives. All forward-looking statements reflect management's
present expectations regarding future events and are subject to
known and unknown risks, uncertainties and other factors that could
cause actual results to differ materially from those expressed in
or implied by any forward-looking statements. These risks,
uncertainties and other factors include, among others: risks
related to Netlist's plans for its intellectual property, including
its strategies for monetizing, licensing, expanding, and defending
its patent portfolio; risks associated with patent infringement
litigation initiated by Netlist, such as its ongoing proceedings
against SK hynix Inc., or by others against Netlist, as well as the
costs and unpredictability of any such litigation; risks associated
with Netlist's product sales, including the market and demand for
products sold by Netlist and its ability to successfully develop
and launch new products that are attractive to the market; the
success of product, joint development and licensing partnerships,
including its relationship with Samsung Electronics Co., Ltd.; the
competitive landscape of Netlist's industry; and general economic,
political and market conditions. These and other risks and
uncertainties are described in Netlist's quarterly report on Form
10-Q filed on May 16, 2017, and
subsequent filings with the U.S. Securities and Exchange Commission
it makes from time to time. Given these risks, uncertainties and
other important factors, undue reliance should not be placed on
these forward-looking statements. These forward-looking statements
represent Netlist's estimates and assumptions only as of the date
made, and except as required by law, Netlist undertakes no
obligation to revise or update any forward-looking statements for
any reason.
For more information, please contact:
Brainerd Communicators, Inc.
Mike Smargiassi/ William
Metzger
NLST@braincomm.com
(212) 986-6667
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SOURCE Netlist, Inc.