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IRVINE, CA - A federal court has denied Micron Technology’s post-trial motions challenging a $445 million patent infringement verdict in favor of Netlist, Inc. (OTCQB:NLST), a technology company with a market capitalization of $192.72 million and impressive revenue growth of 46% in the last twelve months, according to a company statement released Friday. According to InvestingPro analysis, Netlist appears undervalued at current levels.
The United States District Court for the Eastern District of Texas upheld the jury’s May 2024 verdict that found Micron willfully infringed on Netlist’s patented memory technologies. The court’s decision effectively closes the case at the district court level.
The damages award covers Micron’s infringement of Netlist’s ’912 patent from April 2021 to May 2024 and the ’417 patent from August 2021 to May 2024.
"The large dollar award for a limited past damages period highlights the significant value of Netlist’s IP," said C.K. Hong, Netlist’s Chief Executive Officer, in the press release.
The case, filed under number 2:22-cv-294-JRG, reached its conclusion with the court’s Memorandum Opinion and Orders, which followed the Final Judgment entered in July 2024.
Netlist, which specializes in advanced memory and storage solutions, has been involved in multiple patent litigation cases with major technology companies. The company describes itself as an innovator in memory technologies used in AI computing.
While the district court proceedings have concluded, the ruling could potentially face appeal, which would extend the legal process. Documentation related to the case is available through the Public Access to Court Electronic Records system.
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