IRVINE, Calif., Sept. 3, 2015 /PRNewswire/ -- Netlist, Inc.
(NASDAQ: NLST), a leading provider of high performance memory
solutions for the cloud computing and storage markets, announced
today that the United States District Court for the Northern
District of California issued
decisions on the post-trial motions in Netlist's trade secret case
against Diablo Technologies.
The Court denied motions from both parties for Judgment as a
Matter of Law (JMOL), Netlist's motion for a new trial, and
Diablo's motion for attorney's
fees, but granted Diablo's motion
to recover on the preliminary injunction bond and its bill of
costs. Netlist strongly disagrees with the Court's refusal to
grant JMOL and a new trial, particularly given the Court's prior
rulings that Diablo had no right
to use Netlist's chips coupled with Diablo's admissions that it used Netlist's
chips. The parties now have 30 days to file notices of appeal
with the U.S. Court of Appeals for the Federal Circuit. The
company intends to vigorously pursue its options on appeal.
The Court's rulings in the trade secret case have no impact on
Netlist's patent lawsuit against SanDisk and Diablo on the ULLtraDIMM product. The
patent case is currently stayed pending Inter Partes Review of
Netlist's seven asserted patents in the U.S. Patent and Trademark
Office. The Patent Office already has agreed with Netlist
that three of those patents are valid, and Netlist will continue to
fight for the validity of the remaining four patents.
C.K. Hong, Netlist's Chief
Executive Officer, stated, "We strongly disagree with the Court's
decisions and remain confident in our belief that Diablo breached our contract and stole
Netlist's trade secrets. We look forward to the opportunity
to present these issues on appeal and are confident that the
Federal Circuit will carefully consider the record and reverse this
unjust outcome. We are also pleased with the progress we've
made in the patent case and the PTO's validation of our patents
covering SanDisk's ULLtraDIMM product."
About Netlist:
Netlist, Inc. designs and manufactures high-performance,
logic-based memory subsystems for server and storage applications
for cloud computing. Netlist's flagship products include
NVvault® and EXPRESSvault™, a family of hybrid memory
products that significantly accelerate system performance and
provide mission critical fault tolerance, as well as HyperVault,
its next generation hybrid memory solution which is under
development and greatly expands the performance and capacity of
DRAM channel storage. The Company's product offering also includes
HyperCloud®, a patented memory technology that breaks
traditional performance barriers, and a broad portfolio of
industrial Flash and specialty memory subsystems including VLP
(very low profile) DIMMs and Planar-X RDIMMs. Netlist has steadily
invested in and grown its worldwide IP portfolio, which now
includes 88 issued and pending patents in the areas of high
performance memory and hybrid memory technologies.
Netlist develops technology solutions for customer applications
in which high-speed, high-capacity, small form factor and efficient
heat dissipation are key requirements for system memory. These
customers include OEMs and hyperscale datacenter operators that
design and build servers, storage systems and high-performance
computing clusters, engineering workstations and telecommunications
equipment. Founded in 2000, Netlist is headquartered in
Irvine, CA with manufacturing
facilities in Suzhou, People's Republic
of China. Learn more at 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 involve risks and uncertainties
that could cause actual results to differ materially from those
expected or projected. These risks and uncertainties include, but
are not limited to, risks associated with the launch and commercial
success of our products, programs and technologies; the success of
product partnerships; continuing development, qualification and
volume production of HyperVault™, EXPRESSvault™, NVvault®,
HyperCloud® and VLP Planar-X RDIMM; the timing and magnitude of the
decrease in sales to our key customer; our ability to leverage our
NVvault® and EXPRESSvault™ technology in a more diverse customer
base; the rapidly-changing nature of technology; risks associated
with intellectual property, including risks associated with the
inherent uncertainty of the litigation process, and we can provide
no assurance that our efforts to mitigate the effects of the jury
verdict will be successful, patent infringement litigation against
us as well as the costs and unpredictability of litigation over
infringement of our intellectual property and the possibility of
our patents being reexamined by the United States Patent and
Trademark office; volatility in the pricing of DRAM ICs and NAND;
changes in and uncertainty of customer acceptance of, and demand
for, our existing products and products under development,
including uncertainty of and/or delays in product orders and
product qualifications; delays in the Company's and its customers'
product releases and development; introductions of new products by
competitors; changes in end-user demand for technology solutions;
the Company's ability to attract and retain skilled personnel; the
Company's reliance on suppliers of critical components and vendors
in the supply chain; fluctuations in the market price of critical
components; evolving industry standards; and the political and
regulatory environment in the People's
Republic of China. Other risks and uncertainties are
described in the Company's annual report on Form 10-K filed on
March 27, 2015, and subsequent
filings with the U.S. Securities and Exchange Commission made by
the Company from time to time. Except as required by law, Netlist
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE Netlist, Inc.