IRVINE, CA / ACCESSWIRE / December 7, 2021 / Netlist, Inc. (OTCQB:NLST) announced that the jury trial in the Federal District Court for the Central District of California (the Court) against Samsung has concluded with the jury declining to award direct damages of $2.5 million, the amount sought by Netlist.
In October 2021 the Court issued summary judgment in favor of Netlist and against Samsung for material breach of various obligations under the Joint Development and License Agreement (JDLA), which the parties executed in November 2015. In the summary judgment Order, the Court also held that Netlist properly terminated the JDLA, a remedy which leaves Samsung without a license to Netlist's patents. That ruling, however, limited the damages phase of the case to issues of direct damages. The case now moves to the post-trial phase over the next couple of months.
"While we are disappointed with the jury's decision on this narrow issue," stated Tobin Hobbs, Patent Counsel for Netlist, "we're very pleased with the overall outcome of the case as it confirmed that Samsung no longer has a valid license to Netlist patents and therefore requires a licensing agreement."
Netlist provides high-performance solid state drives and modular memory solutions to enterprise customers in diverse industries. The Company's NVMe™ SSDs in various capacities and form factors and the line of custom and specialty memory products bring industry-leading performance to server and storage appliance customers and cloud service providers. Netlist licenses its portfolio of intellectual property including patents, in server memory, hybrid memory and storage class memory, to companies that implement Netlist's technology. To learn more, visit www.netlist.com.
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SOURCE: Netlist, Inc.