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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)
03/23/201512:32:29Amended Statement of Beneficial Ownership (3/a)
03/20/201517:18:04Statement of Changes in Beneficial Ownership (4)
03/20/201517:14:07Initial Statement of Beneficial Ownership (3)
03/19/201519:01:58Statement of Changes in Beneficial Ownership (4)
03/19/201518:56:48Initial Statement of Beneficial Ownership (3)
03/18/201515:10:06Amended Statement of Beneficial Ownership (sc 13d/a)
03/17/201514:40:47Current Report Filing (8-k)
03/17/201511:35:45Amended Statement of Beneficial Ownership (sc 13d/a)
02/13/201516:32:07Amended Statement of Ownership (sc 13g/a)
02/13/201516:31:38Amended Statement of Ownership (sc 13g/a)
02/13/201516:31:38Amended Statement of Ownership (sc 13g/a)
02/13/201516:31:09Amended Statement of Ownership (sc 13g/a)
02/13/201516:31:08Amended Statement of Ownership (sc 13g/a)
02/10/201517:14:21Amended Statement of Ownership (sc 13g/a)
02/10/201517:11:43Amended Statement of Ownership (sc 13g/a)
02/09/201508:12:46Quarterly Report (10-q)
02/02/201511:19:18Amended Statement of Ownership (sc 13g/a)
01/29/201516:06:28Current Report Filing (8-k)
01/14/201512:15:21Statement of Beneficial Ownership (sc 13d)
01/14/201506:30:48Current Report Filing (8-k)

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