Cree and SemiLEDs End Patent Litigation

Cree, Inc., a leader in LED lighting, announces that Cree and SemiLEDs have agreed to end the parties' patent infringement litigation. As part of the settlement, SemiLEDs agreed to the entry of an injunction effective October 1, 2012 that prohibits the importation and sale of the SemiLEDs accused products in the United States and has made a one-time payment to Cree for past damages. The remaining claims of all parties have been dismissed without prejudice to the right to assert the claims in the future. Other terms of the settlement are confidential."The resolution emphasizes the breadth and importance of Cree's patent portfolio and its determination to ensure that Cree's intellectual property rights are respected," stated Julio Garceran, chief intellectual property counsel, Cree.
Cree is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, mercury-free LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting, and semiconductor products for power and radio-frequency (RF) applications.Cree's product families include LED fixtures and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and solar inverters.
This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including risks that Cree's intellectual property rights may not provide meaningful protection against infringements due to the uncertainties and costs of litigation, and other factors discussed in our filings with the Securities and Exchange Commission, including our report on Form 10-K for the year ended June 26, 2011 and subsequent filings. LED Light Review, a consumer oriented review website for LED light bulbs, is pleased to announce a review of the Philips 420224 L Prize Winner LED light bulb.LED Light Review carefully evaluated the Philips 420224 L Prize Winner 10-Watt A19 LED light bulb in key areas including packaging integrity, product design, build quality, light pattern, light output, and light quality. The efficiency and manufacturer warranty of the Philips 420024 were also examined.