Semtech Announces Settlement of Lawsuit against HiLight and Related Defendants
01 Agosto 2018 - 3:15PM
Business Wire
Semtech to be paid damages, costs and
attorneys’ fees
Semtech Corporation (Nasdaq: SMTC), a leading supplier of high
performance analog and mixed-signal semiconductors and advanced
algorithms, today announced the settlement of a lawsuit filed
against HiLight Semiconductor Limited (“HiLight”) and related
individual Defendants in accordance with which Semtech is to be
paid approximately $9 million to cover damages for claims, costs
and attorneys’ fees.
In 2016 Semtech’s subsidiaries, EMEA Limited (“Semtech”) and
Gennum UK Ltd., commenced legal proceedings in the English High
Court against HiLight and various former Semtech employees
subsequently employed by HiLight. The individual Defendants in the
proceedings at the time of settlement were:
John Gary Steele
Patrick Richard
Michael Vandenberg
Derek Hutchins
George Brocklehurst
Dominique Coué, and
Robin Commander.
Among various claims, Semtech alleged that Mr. Steele and the
other individual Defendants had (i) breached various
non-competition and/or non-solicitation obligations and induced
other individuals to do the same, and (ii) taken intellectual
property and other proprietary information from Semtech in breach
of confidence and used that confidential information to design
competing transimpedence amplifier (TIA) products for HiLight.
Mohan Maheswaran, Semtech’s President and CEO, commented, “ We
are pleased with the outcome of this lawsuit and are resolute in
our belief that our innovation, intellectual property and trade
secrets need to be vigorously protected across all regions of the
world, and we will seek to defend the company against any unfair
practices that we believe hurts our shareholder value.”
In settlement of the claims, Semtech is to be paid approximately
$9 million, of which Semtech already has received approximately
$6.7 million.
The prior guidance provided by Semtech Corporation for its
second quarter of fiscal year 2019 did not reflect any impact of
this settlement. Any queries regarding the legal proceeding should
be directed to Semtech’s Executive Vice President and General
Counsel, Charles B. Ammann.
About Semtech
Semtech Corporation is a leading supplier of high performance
analog and mixed-signal semiconductors and advanced algorithms for
high-end consumer, enterprise computing, communications, and
industrial equipment. Products are designed to benefit the
engineering community as well as the global community. The Company
is dedicated to reducing the impact it, and its products, have on
the environment. Internal green programs seek to reduce waste
through material and manufacturing control, use of green technology
and designing for resource reduction. Publicly traded since 1967,
Semtech is listed on the Nasdaq Global Select Market under the
symbol SMTC. For more information, visit www.semtech.com.
Semtech and the Semtech logo are registered trademarks of
Semtech Corporation or its affiliates.
SMTC-P
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180801005883/en/
Semtech CorporationSandy Harrison, (805)
480-2004rgrech@semtech.com
Semtech (NASDAQ:SMTC)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Semtech (NASDAQ:SMTC)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024