MILPITAS, Calif., March 6, 2015 /PRNewswire/
-- Intersil Corporation (NASDAQ:ISIL), a leading
provider of innovative power management and precision analog
solutions, announced that a jury reached a verdict today on
litigation initiated in 2008 by Texas Advanced Optoelectronic
Solutions, Inc. ("TAOS") in the
U.S. District Court for the Eastern District of Texas.
In response to claims of trade secret misappropriation, breach
of contract, tortious interference with a business relationship and
patent infringement, the jury awarded TAOS $48.8
million in compensatory damages and $10 million in exemplary damages. Although the
company appreciates the jury's service, it believes the verdict and
magnitude of the award to be erroneous. Intersil will seek to
overturn the verdict through post-trial motions and appeals to the
appropriate U.S. Circuit Courts of Appeal, as necessary.
About Intersil
Intersil Corporation is a leading provider of innovative power
management and precision analog solutions. The company's products
form the building blocks of increasingly intelligent, mobile and
power hungry electronics enabling advances in power management to
improve efficiency and extend battery life. With a deep portfolio
of intellectual property and a rich history of design and process
innovation, Intersil is the trusted partner to leading companies in
some of the world's largest markets, including the industrial and
infrastructure, mobile computing, automotive and aerospace. For
more information about Intersil, visit our website at
www.intersil.com.
Intersil and the Intersil logo are trademarks or registered
trademarks of Intersil Corporation. All other brands, product names
and marks are or may be trademarks or registered trademarks used to
identify products or services of their respective owners.
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SOURCE Intersil Corporation