SUNNYVALE, California, MONTH DAY, 2012 – InvenSense, Inc. (NYSE: INVN), today provided an update regarding certain legal matters.
On May 16, 2012 ST Microelectronics, Inc. elected to file a complaint in the Northern District of California alleging that InvenSense infringes 9 of its patents. InvenSense contests these claims and intends to defend itself vigorously. As a leading technology company, InvenSense respects the intellectual property rights of others and has developed a substantial intellectual property portfolio that it believes positions the Company well in its markets and serves as a deterrent to those that may wish to copy the Company’s technology. InvenSense is fully committed to its entire product portfolio, and all InvenSense products continue to be available to InvenSense's customers.
InvenSense has been the recognized technology leader for its series of world first innovations, including:
InvenSense, Inc. also announced today an update to its disclosure practices. The Company intends to comment publicly on litigation matters only on a selective basis, taking into account the adequacy of SEC and NYSE disclosure requirements to serve the needs of its stockholders. The Company assumes no obligation to update the information it publicly provides.
Statements in this press release that are not historical are "forward-looking statements" as the term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally written in the future tense and/or preceded by words such as "will," "expects," "anticipates," or other words that imply or predict a future state and include statements that we intend to defend ourselves vigorously and that our intellectual property portfolio serves as a deterrent to those who wish to copy our technology. Investors are cautioned that all forward-looking statements in this release involve risks and uncertainty that can cause actual results to differ from those currently anticipated, due to a number of factors, including without limitation, the continued adoption of motion tracking and motion sensing as an interface in consumer electronics products, our achievement of design wins, consumer acceptance of our customers' products that incorporate our solutions, intense competition in our industry; our dependence on a limited number of customers for a substantial portion of our revenues; our lack of long-term supply contracts and dependence on limited sources of supply; our ability to continue to develop and introduce new and enhanced products on a timely basis; potential decreases in average selling prices for our products; and the complex technical issues and inherent uncertainties involved in intellectual property litigation that make it impossible for us to know whether we will prevail in this or any other intellectual property litigation matter, as well as changes in economic conditions in our markets and other risk factors discussed in documents filed by us with the Securities and Exchange Commission (SEC) from time to time. Copies of InvenSense's SEC filings are posted on the company's website and are available from the company without charge. Forward-looking statements are made as of the date of this release, and, except as required by law, we do not undertake an obligation to update our forward-looking statements to reflect future events or circumstances.
InvenSense Inc. (NYSE: INVN) is the leading provider of MotionTracking™ solutions for consumer electronic devices in the world. The company’s patented Nasiri-Fabrication platform and patent-pending MotionFusion™ technology address the emerging needs of many mass-market consumer applications such as, improved performance, accuracy, and intuitive motion and gesture based interfaces. InvenSense technology can be found in consumer electronic markets including smartphones, tablets, gaming devices, optical image stabilization, and remote controls for Smart TVs. InvenSense is headquartered in Sunnyvale, California and has offices in China, Taiwan, Korea, Japan, and Dubai. More information can be found at www.invensense.com.