GigOptix, Inc. (NYSE MKT: GIG), a leading fabless supplier of semiconductor and optical components that enable high speed information streaming, today announced that the Superior Court of Santa Clara County, California denied its extraordinary request to enjoin defendants M/A-COM Technology Solutions, Inc. (MACOM), its subsidiary Optomai, Inc., and two of its employees who were former engineers at GigOptix, from using misappropriated trade secrets. As GigOptix has previously announced, it has conducted forensic and other discovery to support its lawsuit for misappropriation of trade secrets. GigOptix also brought a motion for preliminary injunction, which the Court heard on September 13, 2012. It is not necessary that such motions be filed in trade secret misappropriation cases, and the Court’s denial of the request for an injunction does not have any impact on the strength of GigOptix’ case against the defendants.
The Court did not address the merits of GigOptix’ claims against the defendants in denying the motion. While the Court did not provide its reasoning for denial of the motion, the Court did say that:
“[a] party seeking a preliminary injunction ‘ordinarily is required to present evidence of the irreparable injury or interim harm that it will suffer if an injunction is not issued pending an adjudication of the merits.’”
GigOptix remains confident that it has strong evidence supporting its claim for misappropriation of trade secrets. GigOptix looks forward to putting the evidence regarding the conduct and actions of the defendants before a jury and judge in “an adjudication of the merits” at trial. The Court has not yet set a trial date.About GigOptix, Inc. GigOptix is a leading fabless supplier of semiconductor and optical components that enable high-speed end-to-end information streaming over the network and address emerging high-growth opportunities in the communications, industrial, defense and avionics industries. GigOptix offers a unique broad portfolio of Drivers, TIAs and TFPS TM optical modulators for 40G, 100G and 400G fiber-optic telecommunications and data-communications networks, and high performance MMIC solutions that enable next generation wireless microwave systems up to 90GHz and drivers. GigOptix also offers a wide range of digital and mixed-signal ASIC solutions and enables product lifetime extension through its GigOptix Sunset Rescue Program. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the bringing of products to market with full documentation. Such statements contain words such as “will,” and “expect,” or the negative thereof or comparable terminology, and include (without limitation) statements regarding trial and other events in the litigation. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. These risks include, but are not limited to: our ability to enforce intellectual property rights and the likelihood of success in doing so. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of GigOptix’ filings with the SEC, and in GigOptix’ other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to GigOptix as of the date hereof, and GigOptix assumes no obligation to update any forward-looking statement.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV