DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) announced today that the U.S. International Trade Commission (ITC) has agreed to open an investigation into unfair trade practices by Feit Electric Company, Inc. and its Asian supplier, Unity Opto Technology Co., Ltd. The investigation includes allegations of infringement of 8 Cree patents related to LED lighting and Feit?s false and misleading advertising claims, including that certain of its products meet ENERGY STAR® specifications. The decision to open an investigation comes after Cree filed a complaint on January 12, 2015, requesting an investigation by the ITC.
"We?re pleased with the ITC?s decision to open an investigation into this matter,? said Chuck Swoboda, Cree Chairman and CEO. ?With nearly $1B investment in developing the fundamental technology that underlies LED lighting adoption, it is our obligation to protect our intellectual property. Through their actions, Feit and Unity Opto are enjoying an unfair advantage in the market and discouraging the development of new products that benefit consumers.?
The investigation is titled ?Certain Light-Emitting Diode Products and Components Thereof, ITC Inv. No. 337-TA-747.? The ITC?s announcement to institute an investigation may be viewed here. (U.S International Trade Commission, ITC Investigation No. 337-TA-747).
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 products 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, backlighting, electronic signs and signals, power suppliers and solar inverters.
Please refer to www.cree.com for additional product and company information.
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 the risk that the outcome of the ITC action and/or District Court action may be unfavorable in whole or in part; customer acceptance of new LED products; the rapid development of new technology and competing products that may impair demand or render Cree?s products obsolete; and other factors discussed in Cree?s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 29, 2014, and subsequent filings.
Cree® is a registered trademark of Cree, Inc.
ENERGY STAR® is a registered trademark of the U.S. Environmental Protection Agency.