Netlist, Inc. (NLST) stock increased significantly following a victory in a Google patent lawsuit. According to a legal filing, Netlist has won a victory in the United States District Court for the Northern District of California for its US 7,619,912 (‘912) patent.
At the time of writing, NLST stock was trading at $6.03, a 13% increase. Netlist has a $1.43 billion market capitalization and a 52-week price range of $1.73 – $10.20. The average trading volume has increased by 232 percent, from 420,920 to 1,401,357.
Judge Richard Seeborg granted Netlist’s motion for summary judgment, ruling that Google is not entitled to intervening rights under Claim 16.
As a result, Netlist’s enforcement of claim 16 is unaffected by Google’s latest attempt to avoid responsibility for its long history of using Netlist’s intellectual property without permission.
The order subjected the ‘912’s other claims to intervening rights, and Netlist will continue to assert them under a narrower window of time for quantifying the harm caused by Google’s actions.
Recall on December 6, Netlist’s stock dropped 17% after the company was awarded no monetary damages in a breach of contract dispute with Samsung. On October 25, Netlist’s stock rose 20% after the Irvine, California-based memory and storage technology company won a victory in a breach of contract case involving Samsung.
Netlist initially filed a complaint against Google in 2009. Netlist vs. Google is the case number: 4:09-cv-05718.
C.K. Hong, Netlist’s Chief Executive Officer, said, “This ruling stands as vindication of Netlist’s rights in its decade-plus fight against Google. We now look forward to a complete discovery of Google’s make and use of infringing products over this period, and bringing this case before a jury as soon as possible.”
Netlist provides enterprise customers in various industries with high-performance solid-state drives and modular memory solutions. The Company’s NVMeTM SSDs in various capacities and form factors and its line of custom and specialty memory products provide server and storage appliance customers and cloud service providers with industry-leading performance. Netlist licenses its intellectual property portfolio, which includes patents in server memory, hybrid memory, and storage-class memory, to companies that use Netlist’s technology.