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IRVINE - Netlist, Inc. (OTCQB:NLST), a $189 million market cap technology company, has amended its patent infringement complaints against Samsung and Micron in the U.S. District Court for the Eastern District of Texas, according to a press release statement. According to InvestingPro data, the company’s stock currently trades at $0.65, with analysts setting a significantly higher target price of $2.00.
The company has added a second patent to its legal action and included distributor Avnet, Inc. as a defendant. The original complaints, filed on May 20, 2025, asserted Netlist’s U.S. Patent No. 12,308,087 against Samsung’s and Micron’s High-Bandwidth Memory products. The amended complaints now also include U.S. Patent No. 10,025,731 against the defendants’ DDR5 DIMM products. Despite showing strong revenue growth of 46% in the last twelve months, Netlist’s financial health score remains weak according to InvestingPro metrics, with negative EBITDA of $14.8 million.
The first patent covers HBM technology for AI applications and will expire in November 2031, while the second patent relates to DDR5 DIMM with DFE and ODT/RTT circuits and will expire in July 2029.
"Netlist continues to expand its portfolio of patented HBM and AI-memory technologies," said C.K. Hong, Netlist’s Chief Executive Officer in the statement.
The company noted that over the past two years, it has obtained jury verdicts awarding combined damages of $866 million for willful patent infringement by Samsung and Micron.
Netlist is represented in these legal proceedings by Irell & Manella LLP, with Jason Sheasby leading the legal team.
The company describes itself as an innovator in advanced memory and storage solutions with a portfolio of patented technologies for AI computing applications. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers Netlist’s technology portfolio, market position, and growth prospects.
In other recent news, Netlist, Inc. has announced a $12 million registered direct offering involving the sale of 17,142,860 shares of common stock and warrants for an additional 34,285,720 shares. The offering, managed by Roth Capital Partners, is expected to close by June 25, 2025, and aims to generate gross proceeds of $12 million, which will be used for general corporate purposes. In a significant legal development, a federal court upheld a $445 million jury verdict against Micron Technology for patent infringement, affirming that Micron willfully infringed on Netlist’s patented memory technologies. This legal victory underscores the value of Netlist’s intellectual property in the memory technology sector. Additionally, Netlist has expanded its board of directors by appointing Jun S. Cho and Blake Welcher as independent members, bringing extensive expertise in product distribution and intellectual property. These recent developments reflect Netlist’s strategic efforts to bolster its financial standing and governance structure while protecting its technological innovations.
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