GSI Technology files antitrust lawsuit against Cypress Semiconductor

The complaint charges Cypress with conducting an unlawful combination and conspiracy to monopolize the market for high-performance static random access memory (SRAM) devices, known as fast synchronous Quad Data Rate (or QDR) SRAMs and Double Data Rate (or DDR) SRAMs. The complaint alleges that the anti-competitive, collusive and conspiratorial conduct of Cypress and certain co-conspirators has violated Section 1 of the Sherman Act and also constitutes unlawful restraint of trade and unfair competition under applicable provisions of California law. The complaint seeks treble damages, in an amount to be determined at trial, a preliminary and permanent injunction prohibiting the continuation of the unfair and illegal business practices and recovery of GSI's attorneys' fees and costs. GSI also announced that, on July 21, 2011, the United States International Trade Commission (ITC) formally instituted an investigation in response to the patent infringement complaint filed on June 10, 2011 by Cypress against GSI and previously reported by GSI. GSI believes that it has meritorious defenses to Cypress' infringement claims and intends to defend itself vigorously in the ITC proceeding while vigorously prosecuting its antitrust claims against Cypress.