IRVINE, Calif., Oct. 4, 2016 /PRNewswire/ -- Netlist, Inc.
(NASDAQ: NLST), today announced the United States International
Trade Commission (ITC) has 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.
"We are pleased with the ITC's decision to investigate the
unfair trade practices of SK hynix based on the unauthorized
importation of our patented technologies," said C.K. Hong, Chairman and CEO of Netlist. "We are
disappointed that SK hynix has been unwilling to negotiate in good
faith toward a resolution which fairly compensates Netlist for our
valuable intellectual property. While we remain willing to
negotiate such a resolution, we look forward to addressing SK
hynix's ongoing infringement in an expeditious manner in the
ITC."
The ITC investigation will proceed against SK hynix Inc. and its
wholly owned subsidiaries SK hynix America Inc. and SK hynix memory
solutions Inc. ITC investigations proceed on an expedited basis,
commonly progressing to trial within a year. 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 regarding future events and 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 risks and
uncertainties that could cause actual results to differ materially
from those expected or projected, including, among others, risks
associated with the launch and commercial success of our products,
programs and technologies; the success of product, joint
development and licensing partnerships; continuing development,
qualification and volume production of HybriDIMM™ , as well as our
other products and technologies; 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; volatility in the
pricing of DRAM ICs and NAND flash; changes in and uncertainty of
customer acceptance of, and demand for, our existing products and
products under development, including predictions about the size of
the market for our products; delays in our and our customers'
product releases and development; introductions of new products by
competitors; changes in end-user demand for technology solutions;
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. 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.