Lawsuit targets five Navitas product lines, seeking sales ban and damages amid NVTS stock decline of 8.6% in five sessions.
Wolfspeed filed a patent infringement lawsuit against Navitas Semiconductor (NVTS) on July 7, alleging five of its patents cover core NVTS product lines. The suit targets GaNFast, GaNSlim, GaNSafe transistors, GeneSiC MOSFETs, and SiCPAK power modules, which constitute most of NVTS sales.
NVTS shares fell as much as 8.59% over the following five trading sessions, closing at $13.47 on Friday. The company had recently pivoted to high-power chips for AI data centers, a shift that drove its stock higher earlier this year.
Wolfspeed seeks a permanent U.S. sales and import ban on the accused products, along with damages. Navitas stated it respects intellectual property rights and expects the same in return.