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Cypress Agrees To Drop Ericsson From Patent Suit Against GSI

DOW JONES NEWSWIRES Cypress Semiconductor Corp. (CY) said Monday it has filed a motion to release telecommunications equipment maker Ericsson (ERIC) from its patent-infringement complaint against GSI Technology Inc. (GSIT). Cypress, a chip maker, in June filed a complaint with the U.S. International Trade Commission, alleging infringement of four static random-access memory, or SRAM, patents by GSI, a maker of memory for networking and telecommunications equipment. Cypress's complaint has sought to stop other electronics makers from importing the allegedly infringing GSI memory chips. Cypress said it reached an agreement with Ericsson, making it the fifth customer Cypress has released from the case so far. Other recent agreements were reached with Arrow Electronics Inc. (ARW) and Nu Horizons Electronics Corp. GSI has previously denied any wrongdoing in the case and said it would vigorously defend itself from the allegations. Late last year, GSI said the U.S. Patent and Trademark Office initially rejected a number of Cypress's patent infringement claims tied to the dispute. While Cypress had been reporting improved profits in recent quarters, the semiconductor sector has shown increasing weakness, with many companies cutting their earnings projections and a handful of disk-makers struggling with flooding in Thailand. The company in January said its fourth-quarter earnings surged compared with a year-earlier quarter challenged by a legal settlement and higher tax costs. Cypress shares closed Monday's regular session at $15.67, while Ericsson's closed at $9.90 and GSI's closed at $4.38. None of the stocks was active after hours following Cypress's announcement. -By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108;

Stock News for Gsi Technology (GSIT)
05/25/201612:02:52Specialized Disclosure Report (sd)
05/05/201617:59:18Current Report Filing (8-k)
05/05/201616:40:00Current Report Filing (8-k)
04/18/201617:30:24Amended Statement of Beneficial Ownership (sc 13d/a)
02/18/201617:15:23Statement of Changes in Beneficial Ownership (4)
02/12/201616:20:27Amended Statement of Ownership (sc 13g/a)
02/11/201615:01:01Statement of Changes in Beneficial Ownership (4)
02/10/201618:19:00Statement of Changes in Beneficial Ownership (4)
01/28/201616:07:24Current Report Filing (8-k)
12/29/201516:16:38Amended Statement of Beneficial Ownership (sc 13d/a)
11/30/201517:09:41Current Report Filing (8-k)
11/30/201508:00:00ISSI Wins Jury Verdict in Litigation Brought by GSI Technology
11/05/201509:04:24Quarterly Report (10-q)
11/03/201518:02:05Statement of Changes in Beneficial Ownership (4)
11/03/201517:46:57Statement of Changes in Beneficial Ownership (4)
11/03/201517:34:41Statement of Changes in Beneficial Ownership (4)
11/03/201517:28:14Statement of Changes in Beneficial Ownership (4)
11/03/201517:23:55Statement of Changes in Beneficial Ownership (4)
10/29/201522:02:13GSI Technology's (GSIT) CEO Lee-Lean Shu on Q2 2016 Results...
10/29/201516:06:52Current Report Filing (8-k)

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