Court Enters Judgment Against IXYS Subsidiary.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. -- IXYS Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SYXI) today announced that the Superior Court of Norfolk County, Massachusetts Norfolk County is a county located in the U.S. state of Massachusetts. As of 2000, the population was 650,308. Its county seat is Dedham6. It is also ranked #28 in the Top 100 list of Highest income counties in the United States with a per capita income of $32,484. entered judgment for LoJack Corporation in its breach of contract suit against Clare, Inc., a subsidiary of IXYS. The Court entered judgment for damages in the amount of $36,700,000, pre-judgment interest calculated at approximately $6,931,000, attorneys' fees of $679,332 and costs of $28,861, totaling approximately $44,339,000. The total judgment bears interest at 12% per annum Per annum Yearly. , simple interest. The Court has not yet issued a ruling on the motion of Clare, Inc. for judgment notwithstanding the verdict A judgment entered by the court in favor of one party even though the jury returned a verdict for the opposing party. The phrase "judgment notwithstanding the verdict" is abbreviated JNOV, which stands for its Latin equivalent, judgment . Clare, Inc. intends to appeal the judgment. IXYS develops and markets primarily high performance power semiconductors and control ICs that are used in controlling and converting electrical power efficiently in power systems for telecommunication infrastructure, motor drives, medical systems and transportation. IXYS also serves emerging markets with digital and analog ICs that control flat panel displays, medical instruments and telecommunication products. Additional information may be obtained by visiting IXYS' website at http://www.ixys.com, or by contacting the company directly. |
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