Netlist Inc (OTCQB:NLST) shares are trading higher Monday. The company announced that it won a $303 million patent infringement trial against Samsung Electronics Co, Ltd (OTC:SSNLF).
What Happened: Netlist was awarded $303 million in damages by the U.S. District Court for the Eastern District of Texas. The jury trial focused on five Netlist patents lasted six days and ultimately found that several Samsung products infringed on the patents.
“We are pleased with the outcome of this case. The jury verdict left no doubt that Samsung not only willfully infringed Netlist patents, but currently uses Netlist technology without a license on strategic products which collectively represent the future of Samsung’s memory business,” said C.K. Hong, CEO of Netlist.
Netlist provides high-performance memory solutions to enterprise customers in diverse industries. The company on Tuesday will hold a conference call to discuss the court ruling, as well as its first-quarter results.
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NLST Price Action: Netlist shares were up 31.25% at $5.25 at the time of publication, according to Benzinga Pro.
Photo: Recklessstudios from Pixabay.
