Netlist Receives Favorable Order Against Samsung in US District Court

IRVINE, CA / ACCESSWIRE / August 3, 2022 / Netlist, Inc. (OTCQB:NLST) today announced that the United States District Court for the District of Delaware (the Court) issued an Order granting in part Netlist's motion for dismissing Samsung's First Amended Complaint and denying Samsung's request to file a Second Amended Complaint.

The Court issued a written opinion supporting the Order, and dismissed Samsung's Counts IV, V, VI, VII, X, and XI from the case. The partial dismissal means Samsung cannot pursue a separate action on the patents Netlist first asserted in Texas, and now cannot carry out its alleged obligation to protect Google from the ‘912 Patent in Delaware. In addition, Samsung voluntarily withdrew its Motion to Sever and Stay the case that Netlist brought in the Eastern District of Texas.

Jayson Sohi, Netlist's Director of IP Strategy, said, "We are pleased Judge Andrews dismissed half of the pending claims from Samsung's Delaware lawsuit, including the ‘912 claim. We look forward to continue defending our intellectual property rights in the remaining portion of this case."

Separately, following the Order, Netlist filed a complaint against Samsung in the Eastern District of Texas for Samsung's infringement of the ‘912 Patent.

About Netlist
Netlist provides high-performance solid state drives and modular memory solutions to enterprise customers in diverse industries. The Company's NVMe™ SSDs in various capacities and form factors and the line of custom and specialty memory products bring industry-leading performance to server and storage appliance customers and cloud service providers. Netlist licenses its portfolio of intellectual property including patents, in server memory, hybrid memory and storage class memory, to companies that implement Netlist's technology. To learn more, visit www.netlist.com.

Safe Harbor Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical facts and often address future events or Netlist's future performance. Forward-looking statements contained in this news release include statements about Netlist's ability to execute on its strategic initiatives. All forward-looking statements reflect management's present expectations regarding future events and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by any forward-looking statements. These risks, uncertainties and other factors include, among others: risks related to Netlist's plans for its intellectual property, including its strategies for monetizing, licensing, expanding, and defending its patent portfolio; risks associated with patent infringement litigation initiated by Netlist, or by others against Netlist, as well as the costs and unpredictability of any such litigation; risks associated with Netlist's product sales, including the market and demand for products sold by Netlist and its ability to successfully develop and launch new products that are attractive to the market; the success of product, joint development and licensing partnerships; the competitive landscape of Netlist's industry; and general economic, political and market conditions, including quarantines, factory slowdowns or shutdowns, and travel restrictions resulting from the COVID-19 pandemic. The military conflict between Russia and Ukraine may increase the likelihood of supply interruptions. All forward-looking statements reflect management's present assumptions, expectations and beliefs regarding future events and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by any forward-looking statements. These and other risks and uncertainties are described in Netlist's annual report on Form 10-K for its most recently completed fiscal year filed on March 1, 2022, and the other filings it makes with the U.S. Securities and Exchange Commission from time to time, including any subsequently filed quarterly and current reports. In light of these risks, uncertainties and other factors, these forward-looking statements should not be relied on as predictions of future events. These forward-looking statements represent Netlist's assumptions, expectations and beliefs only as of the date they are made, and except as required by law, Netlist undertakes no obligation to revise or update any forward-looking statements for any reason.

For more information, please contact:
Investors/Media
The Plunkett Group
Mike Smargiassi
NLST@theplunkettgroup.com
(212) 739-6729

SOURCE: Netlist, Inc.

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