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Stock Market & Financial Investment News

News Breaks
December 30, 2012
12:54 EDTCY, GSITITC reviewing 'Initial Determination' in Cypress GSI Tech patent case
Late Friday, Cypress Semiconductor (CY) announced that the International Trade Commission, ITC, has agreed to review the entire Initial Determination issued by Chief Administrative Law Judge Charles E. Bullock in the pending patent case between Cypress and GSI Technology (GSIT). Cypress has asserted that GSI SRAMs infringe multiple Cypress patents. The Commission also remanded the case back to Judge Bullock for a ruling on the validity and the enforceability of Cypress’s patents. After Judge Bullock completes his ruling, the Commission will review his initial findings on non-infringement as well as his rulings on validity and enforceability.
News For CY;GSIT From The Last 14 Days
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September 18, 2014
09:11 EDTGSITGigOptix says still seeks to engage in discussions with GSI Technology
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September 9, 2014
09:06 EDTGSITGigOptix says 'disappointed' in GSI Technology board acquisition rejection
GigOptix (GIG) announced that it had sent the following letter to the GSI Technology board of directors in response to the announcement by GSI Technology (GSIT) that its board of directors has rejected GigOptix’ previously announced proposal to acquire GSI Technology. The company said, "I am in receipt of Mr. Shu’s letter dated September 8. We are disappointed that GSI Technology’s Board of Directors, without even engaging in a discussion with us, has rejected our acquisition proposal and chosen to deny its stockholders the opportunity to achieve a substantial premium and immediate liquidity for their shares. We are confident that moving forward promptly to consummate a transaction is in the best interests of all parties. We believe we are offering GSI Technology’s stockholders superior value and the opportunity to participate in the upside of the combined company, which we believe is a better outcome than GSI Technology remaining an independent company as you have proposed in your letter. As we have previously stated, the combination should offer an increasingly exciting set of solutions for customers, providing an offering of both your high performance memory products for networking and telecommunications equipment and our high speed communications components. Together, this would allow us to strengthen the value proposition that we collectively provide to our customers through a wider range of companion and complementary products and more effectively challenge our respective competitors in the marketplace. We and our advisors stand ready at any time to meet and review our offer directly with you."
September 8, 2014
13:03 EDTCYCypress Semiconductor management to meet with Needham
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