Story
Navitas Semiconductor Shares Fall Following Patent Lawsuit from Wolfspeed
Summary
Wolfspeed has filed a patent infringement lawsuit against Navitas Semiconductor, alleging multiple product lines violate its patents. The legal action prompted a significant decline in Navitas's stock price.
Shares of Navitas Semiconductor (NASDAQ:NVTS) fell approximately 7% on Wednesday after competitor Wolfspeed (NYSE:WOLF) announced it had filed a patent infringement lawsuit. The suit was filed in the United States District Court for the District of Delaware.
The lawsuit alleges that a wide array of Navitas products infringes upon several of Wolfspeed's patents related to semiconductor technology. The products accused of infringement include major Navitas lines such as its GaN-based FETs—part of the GaNFast, GaNSlim, and GaNSafe families—as well as its GeneSiC MOSFETs and SiCPAK modules.
Wolfspeed's complaint cites multiple specific patents, including U.S. Patent Nos. 8,169,005, 10,998,418, 10,886,396, 10,749,443, and 11,888,392. The company asserts that its foundational technology in silicon carbide (SiC) and gallium nitride (GaN) materials represents decades of research and development.
AdIn a statement, Wolfspeed CEO Robert Feurle emphasized the company's commitment to protecting its intellectual property. "Wolfspeed’s foundational technology helped create this industry, and we are deeply committed to defending the intellectual property that represents decades of innovation and R&D investment," Feurle said. "Protecting our patent portfolio is a strategic priority for the company and our shareholders."