Cypress and Virata Settle Lawsuit.Business Editors and High Tech Writers SAN JOSE, Calif.--(BUSINESS WIRE)--May 11, 2001 Cypress Semiconductor Corp. (NYSE NYSE See: New York Stock Exchange :CY) today announced that it had settled its lawsuit with Virata Corporation, a Santa Clara-based provider of communications software and semiconductors to manufacturers of DSL, wireless, satellite, and other broadband networking equipment. In January 2001 Cypress filed suit in the Chancery Court of the State of Delaware alleging that Virata had misappropriated mis·ap·pro·pri·ate tr.v. mis·ap·pro·pri·at·ed, mis·ap·pro·pri·at·ing, mis·ap·pro·pri·ates 1. a. To appropriate wrongly: misappropriating the theories of social science. trade secrets and engaged in unfair competition and tortious interference with contractual obligations. The settlement involves a mutual agreement not to solicit employees and does not involve payment of damages. T.J. Rodgers, Cypress CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "We've negotiated a satisfactory settlement with Virata. The matter is behind us." About Cypress Cypress Semiconductor is "Driving the Communications Revolution"(TM) by providing high-performance integrated circuit solutions to fast-growing markets, including data communications, telecommunications, computation, consumer products, and industrial control. With a focus on emerging communications applications, Cypress's product portfolios include high-speed data communications ICs; networking-optimized and micropower static RAMs; high-bandwidth multi-port and FIFO (First In First Out) A storage method that retrieves the item stored for the longest time. Contrast with LIFO. See traffic engineering methods. FIFO - first-in first-out memories; high-density programmable logic devices; timing technology solutions; and controllers for Universal Serial Bus See USB. (hardware, standard) Universal Serial Bus - (USB) An external peripheral interface standard for communication between a computer and external peripherals over an inexpensive cable using biserial transmission. (USB USB in full Universal Serial Bus Type of serial bus that allows peripheral devices (disks, modems, printers, digitizers, data gloves, etc.) to be easily connected to a computer. ). More than two-thirds of Cypress's sales come from fast-growing communications markets and dynamic companies such as Alcatel, Cisco, Ericsson, Lucent, Motorola, Nortel Networks, and 3Com. Cypress's ability to mix and match its broad portfolio of intellectual property enables targeted, integrated solutions for high-speed systems that feed bandwidth-hungry Internet applications. Cypress aims to become the preferred silicon supplier for Internet switching systems and for every Internet data stream to pass through at least one Cypress IC. Cypress employs more than 4,700 people worldwide with international headquarters in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. . Its shares are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol CY. More information about Cypress is accessible electronically on the company's worldwide Web site at http://www.cypress.com. "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements herein that are not historical facts are "forward-looking statements" involving risks and uncertainties, including by not limited to: the effect of global economic conditions, shifts in supply and demand, market acceptance, the impact of competitive products and pricing, product development, commercialization and technological difficulties, and capacity and supply constraints. Please refer to Cypress's Securities and Exchange Commission filings for a discussion of such risks. "Driving the Communications Revolution" is a trademark of Cypress Semiconductor. |
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