Cypress Drops Trade Secret Lawsuit Against Maxim Integrated Products
January 13 2012 - 5:02PM
Business Wire
Cypress Semiconductor Corp. (Nasdaq: CY) today announced that it
has dropped its trade secret lawsuit against Maxim Integrated
Products. The lawsuit charged Maxim with trying to gain access to
Cypress’s touchscreen intellectual property by unfairly targeting
key Cypress employees. Cypress dropped the lawsuit “without
prejudice,” so it can be filed again in the future if
necessary.
“We are well aware that our people are our greatest asset,” said
T.J. Rodgers, President and CEO of Cypress. “We will not tolerate
unfair attempts to lure our employees away in order to gain access
to our trade secrets. In this case, Maxim has been unsuccessful,
both in hiring our people and in making inroads in the touchscreen
market, allowing us to drop the suit. However, we will file again
if we perceive more unfair efforts to hire away our employees.”
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
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, CapSense, TrueTouch and West
Bridge are registered trademarks of Cypress Semiconductor Corp. All
other trademarks are property of their owners.
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