This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

ISSI Responds To Filing Of Lawsuit By GSI

Stocks in this article: ISSI

MILPITAS, Calif., Oct. 14, 2013 /PRNewswire/ -- Integrated Silicon Solution, Inc. (Nasdaq: ISSI) today responded to the lawsuit filed by GSI Technology, Inc. (GSI) against ISSI and United Memories, Inc. (UMI). The complaint adding ISSI as a defendant was filed on October 3, 2013 in the United States District Court for the Northern District of California.  The complaint alleges that ISSI colluded with UMI to engage in various anticompetitive acts aimed at GSI.  ISSI intends to vigorously defend itself and believes there is no merit to the claims.

UMI is located in Colorado and provides design services to ISSI.  GSI initially filed the lawsuit against UMI alone in May 2013 and alleged that UMI engaged in improper use of alleged GSI proprietary information.  The court recently denied GSI's request for a preliminary injunction against UMI and ruled that GSI had not shown a likelihood that the design database in question contained any GSI proprietary information.  Thereafter, GSI filed an amended complaint adding ISSI as a defendant alongside UMI.  This lawsuit arose after Cisco Systems, Inc. awarded a second-source design for a next generation DRAM chip to ISSI over a competing bid by GSI.  According to the Court's ruling denying the request for preliminary injunction, "Cisco informed GSI that it was not selected because GSI lacked experience in DRAM."  Furthermore, with regard to UMI's participation in ISSI's winning design bid, the Court's ruling noted that "other factors appear to have weighed into the award of the Atris bid which had more to do with GSI's own shortcomings rather than UMI's participation."

"It is unfortunate that GSI has chosen to pursue baseless legal claims after losing a competitive design bid to ISSI," said Scott Howarth, ISSI's President and CEO. "We believe we successfully secured this design win based on the merits of our own technology, our strength in specialty DRAM, and our continuity of long-term supply. We intend to vigorously defend the company against these allegations, while continuing to work closely with our customer to meet their product needs."

About the CompanyISSI is a fabless semiconductor company that designs and markets high performance integrated circuits for the following key markets: (i) automotive, (ii) communications, (iii) industrial, medical, and military, and (iv) digital consumer. The Company's primary products are high speed and low power SRAM and low and medium density DRAM. The Company also designs and markets NOR flash products and high performance analog and mixed signal integrated circuits. ISSI is headquartered in Silicon Valley with worldwide offices in Taiwan, Japan, Singapore, China, Europe, Hong Kong, India, and Korea. Visit our web site at http://www.issi.com/.

Forward Looking StatementsThis news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning ISSI's intent to vigorously defend itself, ISSI's belief that there is no merit to the claims, and continuing to work closely with our customer to meet their needs are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include the inherent uncertainties with respect to the cost, timing and outcome of litigation, our ability to meet the product development and product delivery needs of our customer, market acceptance of our products and the other risks contained from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-K for the year ended September 30, 2012 and the Company's Form 10-Q for the quarter ended June 30, 2013. The Company assumes no obligation to update or revise the forward-looking statements in this release because of new information, future events, or otherwise.

SOURCE Integrated Silicon Solution, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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 16,677.90 +216.58 1.32%
S&P 500 1,950.82 +23.71 1.23%
NASDAQ 4,452.7920 +69.9450 1.60%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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