Netlist Receives Initial Determination In International Trade Commission Investigation Of SK hynix
IRVINE, Calif., Nov. 14, 2017 /PRNewswire/ — Netlist, Inc. (NASDAQ: NLST), today announced that Administrative Law Judge (ALJ) Bullock of the United States International Trade Commission (ITC), issued a Notice of Initial Determination (“ID”) in its investigation of SK hynix RDIMM and LRDIMM enterprise memory products.
According to the Notice, ALJ Bullock determined that no violation of section 337 of the Tariff Act has been found with respect to Netlist’s patents in Certain Memory Modules and Components Thereof, and Products Containing Same, Investigation No. 337-TA-1023. The Notice includes only a brief summary of the ID’s conclusions, so no further details on the substance of the decision are available at this time.
The parties and their counsel have not yet received the full ID, which is subject to confidentiality restrictions. Netlist anticipates its counsel will receive this document within the next few days. Netlist will determine at that time whether further comment on the decision is appropriate. A public version of the ID will be available within 30 days.
The ID is now subject to review by the Commissioners at the ITC. Netlist intends to petition for review of any findings in the ID it believes are incorrect. The Commission will then decide whether to review portions of, or the entire ID. Once the issues under review have been briefed, the Commission may affirm, set aside, or modify the portions of the ID under review. These conclusions will be contained in a Final Determination which is currently scheduled to be issued by the Commission by March 14, 2018.
About Netlist, Inc.
Netlist is a leading provider of high-performance modular memory subsystems serving customers in diverse industries that require superior memory performance to empower critical business decisions. Flagship products NVvault® and EXPRESSvault® enable customers to accelerate data running through their servers and storage and reliably protect enterprise-level cache, metadata and log data by providing near instantaneous recovery in the event of a system failure or power outage. HybriDIMM™, Netlist’s next-generation storage class memory product, addresses the growing need for real-time analytics in Big Data applications and in-memory databases. Netlist holds a portfolio of patents, many seminal, in the areas of hybrid memory, storage class memory, rank multiplication and load reduction. 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 within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical facts and often address future events or the future performance of Netlist. Forward-looking statements contained in this news release include express or implied statements about the outcome of the Final Determination. All forward-looking statements reflect management’s present expectations regarding future events and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by any forward-looking statements. Netlist can provide no assurance regarding the outcome of the final review by the Commissioners at the ITC, and if the final determination concludes that Netlist’s patents were not violated or that remedies will not be imposed, then Netlist’s prospects and financial condition may be materially adversely affected. These and other risks and uncertainties are described in Netlist’s quarterly report on Form 10-Q filed on May 16, 2017, and subsequent filings with the U.S. Securities and Exchange Commission it makes from time to time. Given these risks, uncertainties and other important factors, undue reliance should not be placed on these forward-looking statements. These forward-looking statements represent Netlist’s estimates and assumptions only as of the date made, and except as required by law, Netlist undertakes no obligation to revise or update any forward-looking statements for any reason.
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SOURCE Netlist, Inc.