GSI Technology, Inc. (Nasdaq:GSIT) announced that on July 22, 2011 it filed a complaint against Cypress Semiconductor Corporation in the United States District Court for the Northern District of California charging Cypress with conducting an unlawful combination and conspiracy to monopolize the market for high-performance static random access memory (SRAM) devices, known as fast synchronous Quad Data Rate (or QDR) SRAMs and Double Data Rate (or DDR) SRAMs. The complaint alleges that the anti-competitive, collusive and conspiratorial conduct of Cypress and certain co-conspirators has violated Section 1 of the Sherman Act and also constitutes unlawful restraint of trade and unfair competition under applicable provisions of California law. The complaint seeks treble damages, in an amount to be determined at trial, a preliminary and permanent injunction prohibiting the continuation of the unfair and illegal business practices and recovery of GSI’s attorneys’ fees and costs.
GSI also announced that, on July 21, 2011, the United States International Trade Commission (the “ITC”) formally instituted an investigation in response to the patent infringement complaint filed on June 10, 2011 by Cypress against GSI and previously reported by GSI.
GSI believes that it has meritorious defenses to Cypress’ infringement claims and intends to defend itself vigorously in the ITC proceeding while vigorously prosecuting its antitrust claims against Cypress.
About GSI TechnologyFounded in 1995, GSI Technology, Inc. is a leading provider of high performance static random access memory, or SRAM, products primarily incorporated in networking and telecommunications equipment. Headquartered in Sunnyvale, California, GSI Technology is ISO 9001 certified and has worldwide factory and sales locations. For more information, please visit www.gsitechnology.com.