Appeals Court Stays Damages Award Against IXYS.Business Editors SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--Oct. 23, 2002 IXYS Corporation (Nasdaq:SYXI), a leader in power semiconductors for power conversion and motion control applications, today reported that the United States Court of Appeals for the Federal Circuit The United States Court of Appeals for the Federal Circuit is a United States court of appeals. The Federal Circuit was created by Congress with passage of the Federal Courts Improvement Act of 1982. The court is headquartered in Washington, D.C., and occupies the Howard T. , in the matter of International Rectifier International Rectifier Corp. (NYSE: IRF) is a manufacturer of power semiconductors (MOSFET, IGBT, diodes and thyristors), located in El Segundo, California, USA. It has a market capitalization of 2.48 billion USD and is listed on the S&P Midcap 400. Corporation v. IXYS Corporation, has granted IXYS' motion to stay the $27 million damages award issued by the Federal District Court in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , California "pending further order of the court". "We are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. by this decision," said Arnold Agbayani, IXYS' Chief Financial Officer. "This damages award, which has been stayed by the appellate court A court having jurisdiction to review decisions of a trial-level or other lower court. An unsuccessful party in a lawsuit must file an appeal with an appellate court in order to have the decision reviewed. , is related to an infringement ruling that had already been stayed by the appellate court, 'pending outcome of the appeal'. In granting the stay on infringement, the appellate court ruled that IXYS has shown a 'strong likelihood of success'. We are therefore optimistic that our arguments will ultimately prevail." IXYS develops and markets primarily high performance power semiconductor devices that are used in controlling and converting electrical power efficiently in power systems for the telecommunication and internet infrastructure, motor drives, medical systems and transportation. IXYS also serves its markets with a combination of digital and analog integrated circuits. This press release contains "forward-looking" statements, including statements relating to the possible outcome of our appeal of the decision of the Federal District Court. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause the results of IXYS to differ materially from those indicated by these forward-looking statements, including, among others, risks detailed from time to time in the Company's SEC reports, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended March 31, 2002, and our other filings with the SEC. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements. Additional information may be obtained by visiting IXYS' website at http://www.ixys.com, or by contacting the Company directly. |
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