Cypress drops trade secret lawsuit against Maxim Integrated Products

SAN JOSE, USA: Cypress Semiconductor Corp. has dropped its trade secret lawsuit against Maxim Integrated Products. The lawsuit charged Maxim with trying to gain access to Cypress’s touchscreen intellectual property by unfairly targeting key Cypress employees. Cypress dropped the lawsuit “without prejudice,” so it can be filed again in the future if necessary.

“We are well aware that our people are our greatest asset,” said T.J. Rodgers, president and CEO of Cypress. “We will not tolerate unfair attempts to lure our employees away in order to gain access to our trade secrets. In this case, Maxim has been unsuccessful, both in hiring our people and in making inroads in the touchscreen market, allowing us to drop the suit. However, we will file again if we perceive more unfair efforts to hire away our employees.”