Cypress Announces Dismissal of Lawsuit Filed by Xpoint Technologies, Inc.

Cypress Semiconductor Corp. (NASDAQ:CY) today announced that a patent lawsuit filed against it by Xpoint Technologies, Inc. has been dismissed with prejudice by the U.S. District Court in Delaware. The case was Xpoint Technologies Inc. v. Cypress Semiconductor Corporation et al (Civil Action No. 09-cv-00628-SLR). Cypress was one of 27 companies named in the suit.

“This is another example of the misuse of our patent and court systems to intimidate companies into paying simply to avoid litigation,” said T.J. Rodgers, Cypress’s President and CEO. “Cypress has never—ever—given in to this type of legal rent seeking, and we never will. Our record in Federal Court is excellent and we have no fear of going to trial.”

About Cypress

Cypress delivers high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and exceptional system value. Cypress offerings include the flagship PSoC® programmable system-on-chip families and derivatives such as PowerPSoC® solutions for high-voltage and LED lighting applications, CapSense® touch sensing and TrueTouch solutions for touchscreens. Cypress is the world leader in USB controllers, including the high-performance West Bridge® solution that enhances connectivity and performance in multimedia handsets. Cypress is also a leader in high-performance memories and programmable timing devices. Cypress serves numerous markets including consumer, mobile handsets, computation, data communications, automotive, industrial and military. Cypress trades on the NASDAQ Global Select Market under the ticker symbol CY. Visit Cypress online at www.cypress.com.

Cypress, the Cypress logo, PSoC, PowerPSoC, CapSense, TrueTouch and West Bridge are registered trademarks of Cypress Semiconductor Corp. All other trademarks are property of their owners.

Cypress Semiconductor (NASDAQ:CY)
Historical Stock Chart
From Jun 2024 to Jul 2024