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Thursday, June 1, 2023

Netlist, Inc. (OTCQB: NLST) Rockets Up Over 30% on Monday After Texas Jury Awards $303 Million (+ Treble Damages) from Samsung

Netlist, Inc. (OTCQB: NLST) is up 32% on Monday as of this writing hitting a high of $6.10 earlier in the day on over $53.5 million in dollar volume as of 3:30 pm on Monday. This represents by far the biggest volume day Netlist has had so far this year and rivals the kind of volume Netlist was trading in 2021 when the stock rocketed up over $10 per share. 

The move up comes after the Jury in Texas awarded Netlist $303 million in damages from Samsung. The conclusion of Netlist’s 16-month-long case against Samsung came with Chief Judge Rodney Gilstrap reading the jury’s unanimous verdict confirming that all five Netlist patents had been infringed by Samsung, that none of Netlist’s five patents were invalid, that Samsung willfully infringed those patents, and that money damages were owed to Netlist for the infringement of all five patents.  The amount of damages awarded by the jury covers infringement by Samsung through March 2023. Treble damages could bring the sum to over $1 billion. We will be updating on NLST when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

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This gives Netlist the funds to move forward in their continuing suites against Micron and Google and represents a major step forward for Netlist as the Company had been forced to dilute the stock in the past spending approximately $73 million in legal fees over the past 9 years. Now Netlist is heavily bankrolled with a serous war chest ready to fund their lawsuits against Micron and Google moving forward. 

It is important to note that the $303 million + treble from Samsung is just for the past 18 months of infringing upon Netlists patents. We can expect similar damages from Micron however Google is a whole different story as the search engine has been infringing on Netlist’s patents since 2010 according to the Company. Thats 13 years of infringing on Netlists patents. Netlist can now go to Samsung with a cease and desist and Samsung will be forced to sign a lucrative licensing deal moving forward. This is where the real money comes from. This also has significant implications for Google Search as search has benefited enormously from Netlists patents. Especially since Google will soon have to argue their case in the same courtroom before Judge Gilstrap. 

There has been a growing awareness that large corporations take advantage of their smaller competitors such as Micron, Samsung and Google took advantage of Netlist. A recent article from the WallStreet journal called “When Apple Comes Calling. “it’s the kiss of death” describes how the tech giant is known to regularly scoop up employee’s and technology from smaller rivals and has tried to invalidate hundreds of patents owned by companies that have accused Apple of violating their patents. 

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On Monday Netlist issued a press release announcing that it won the $303 million damages award against Samsung Electronics Co., Ltd., Samsung Semiconductor, Inc., and Samsung Electronics America, Inc. (together “Samsung”). The award resulted from a jury trial that lasted six days and involved five Netlist patents: U.S. Patent Nos. 10,949,339, 11,016,918, 11,232,054, 8,787,060, and 9,318,160.  The products found to infringe these patents were all Samsung DDR4 LRDIMM, DDR5 UDIMM, SODIMM, and RDIMM, and high bandwidth memory (HBM) 2, 2E and 3 components. 

C.K. Hong, Netlist’s Chief Executive Officer, stated, “We are pleased with the outcome of this case. The jury verdict left no doubt that Samsung not only willfully infringed Netlist patents, but currently uses Netlist technology without a license on strategic products which collectively represent the future of Samsung’s memory business. The brazen free-ride and efficient infringement of intellectual property belonging to small innovators by industry giants remain a serious issue for our innovation ecosystem. We hope this case serves as a reminder of this problem to policymakers as well as a wakeup call to those in the memory industry that are using our IP without permission.” 

Netlist will host a conference call at 12 pm Eastern Time tomorrow to discuss Q1 2023, results. To pre-register, click here. Netlist encourages participants to pre-register for the conference call. Callers who pre-register will be given a unique PIN to gain immediate access to the call and bypass the live operator. A live webcast and archived replay of the call can be accessed in the Investor’s section of Netlist’s website at netlist.com. Additional information about Netlist, Inc. v. Samsung Electronics Co. Ltd., et. al., EDTX Case No. 2:21-cv-00463-JRG is available through the Public Access to Court Electronic Records (PACER) service. 

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Headquartered in Irvine, California, Netlist is a leading provider of high-performance modular memory subsystems to the world’s premier OEMs, specializing in hybrid memory. The business is highly lucrative, and Netlist recently reported record revenues in 2022 of $161 million compared to $102 million in 2021. Netlist also owns a valuable intellectual property portfolio including at least 130 patents, many of them seminal in the areas of hybrid memory, storage class memory, rank multiplication and load reduction. The financial prospects of Netlist patent infringement lawsuits could very well rival some of the biggest settlements in history and there have been some big ones. In June 2020 in a landmark case, Netlist was victorious in a 12-year battle in the patent courts against Google. A 3-judge panel at the US court of appeals, in a unanimous rule 36 decision, upheld the decision of the lower court and found in favor of Netlist. Google “Waived” their appeal rights to SCOTUS and the 912 patent was reissued with 78 claims upheld.  This case set the stage for Netlist moving forward. We will be updating on NLST when more details emerge so make sure you are subscribed to Newsytrends.com by entering your email below. 

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Disclosure: we hold no position in NLST either long or short and we have not been compensated for this article.

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