A U.S. federal district court jury ruled on April 21 (local time) in favor of Netlist in a memory patent infringement lawsuit against Samsung Electronics, a U.S. semiconductor company, and awarded $303 million in damages. Reuters reported that the verdict was more than (about 400 billion won).
After a six-day trial, the jury determined that memory modules used in Samsung Electronics’ high-performance computers infringed on five of Netlist’s patents, Reuters reported.
Samsung Electronics (KOSPI:005930) and Netlist did not immediately respond to Reuters’ request for comment. Shares of Netlist (USOTC:NLST) surged 21% to close at $4 on the New York Stock Exchange after the verdict Friday afternoon.
Netlist filed a lawsuit in 2021 alleging that Samsung’s memory products and other data technologies used in its cloud computing servers infringed on its patents and sought $404 million in damages.
Samsung Electronics (USOTC:SSNHZ) has argued that Netlist’s patents are invalid and that its technology works differently than Netlist’s.
Netlist claims that its technology increases the efficiency of memory modules, enabling it to derive useful information from a large amount of data in a short period of time, and Samsung Electronics took the patented technology after collaborating on the project.
Headquartered in Irvine, California, USA, Netlist was founded in 2000 by Hong Chun-ki, a former LG Semiconductor CEO.