GigOptix, Inc. (NYSE MKT: GIG), a leading supplier of advanced semiconductor and optical communications components, today announced that it has this afternoon learned from a press release issued by M/A-COM Technology Solutions, Inc. (“MACOM”) that MACOM has filed a lawsuit in the United States District Court for the Northern District of California against GigOptix alleging that GigOptix’ polymer technology is infringing on two patents in which MACOM claims rights. This new lawsuit was filed without any prior demands or notice by MACOM to GigOptix even though the GigOptix lawsuit in the Superior Court of Santa Clara County, California against MACOM, its subsidiary Optomai, Inc., and three of GigOptix’ former employees for misappropriation of confidential information and trade secrets and breach of the contractual and legal obligations to GigOptix of the former employees is scheduled for a jury trial on September 23, 2013, after the Superior Court has just denied motions filed by the defendants to stay the GigOptix lawsuit on the basis that certain individual defendants employed by MACOM and previously employed by GigOptix are being investigated by the United States Attorneys’ Office for the Northern District of California. GigOptix has not been served with a copy of the complaint filed by MACOM, but intends to vigorously defend its pioneering innovations in various optical communication areas, including the use of polymer thin films for light modulation. Once GigOptix has been served with a copy of the complaint, it will review the claims made by MACOM and assess its response.
About GigOptix, Inc.
GigOptix is a leading fabless supplier of semiconductor and optical components that enable high-speed end-to-end information streaming over the network and address emerging high-growth opportunities in the communications, industrial, defense and avionics industries. GigOptix offers a unique broad portfolio of Drivers, TIAs and TFPSTM optical modulators for 40G, 100G and 400G fiber-optic telecommunications and data-communications networks, and high performance MMIC solutions that enable next generation wireless microwave systems up to 90GHz. GigOptix also offers a wide range of digital and mixed-signal ASIC solutions and enables product lifetime extension through its GigOptix Sunset Rescue Program.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the litigation involving MACOM. Such statements contain words such as "will," and "expect," or the negative thereof or comparable terminology, and include (without limitation) statements regarding growth, opportunities, continued traction, contracts, improvements and our statements under the heading "Financial Outlook." Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. These risks include, but are not limited to: the ability to extend product offerings into new areas or products, the ability to commercialize licensed technology, unexpected occurrences that deter the full documentation and "bring to market" plan for products that were developed this year and last year, trends and fluctuations in the industry, changes in demand and purchasing volume of customers, unpredictability of suppliers, our ability to control our costs of goods sold, our ability to attract and retain qualified personnel, the ability to move product sales to production levels, the ability to compete for client design-in opportunities, the ability to cross-sell to new clients and to diversify, the success of product sales in new markets or of recently produced product offerings, including bundled product solutions, the amount of cost savings, the ability to improve productivity, the ability to pursue and attract other merger and acquisition opportunities, our ability to enforce intellectual property rights and defend against intellectual property claims brought against us, and the ability to maintain and continue relationships with government agencies. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" and in other sections of the Company's filings with the SEC, and in the Company's other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.
Darrow Associates, Inc.
Jim Fanucchi, 408-404-5400
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