This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Court Refuses To Dismiss GSI Technology’s Antitrust Lawsuit Against Cypress Semiconductor

GSI Technology, Inc. (Nasdaq:GSIT) announced today that on Friday, July 6, the United States District Court for the Northern District of California in San Jose issued a decision upholding the sufficiency of the antitrust claims asserted by GSI in its Complaint against Cypress Semiconductor Corporation. The Complaint, filed on July 22, 2011, charges Cypress with conducting an unlawful combination and conspiracy, by and through the QDR Consortium, to exclude GSI and other competitors from 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.

Cypress had moved to dismiss the Complaint arguing that the claims asserted by GSI failed to state a claim under federal or state antitrust laws. In its decision, the Court rejected virtually all of Cypress’ arguments. The Court held that GSI’s Complaint adequately alleges that the anti-competitive, collusive and conspiratorial conduct of Cypress and certain co-conspirators violates Section 1 of the Sherman Act and also constitutes unlawful restraints 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. The decision in GSI’s favor will allow GSI to pursue pre-trial discovery on all of the claims alleged.

Lee-Lean Shu, GSI’s President and CEO, noted, “We are, of course, pleased with the Court’s ruling. We are confident that the claims we asserted in the Complaint regarding Cypress’ anticompetitive conduct will be proven at trial and will result in a victory, not only for GSI, but also for the QDR SRAM and DDR SRAM market.”

GSI’s lead trial lawyer in the case, Arthur Shartsis of Shartsis Friese, responded to the decision stating: “The Court’s sweeping decision is an important validation of the public standard setting process in high-tech industries. GSI believes that competitors may not privately conspire to set standards in a way that harms open competition.”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,113.54 +61.81 0.36%
S&P 500 1,983.53 +9.90 0.50%
NASDAQ 4,456.0160 +31.3120 0.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs