Cree and Emson Settle Patent Dispute and Reach Supply Agreement

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE), a leading LED supplier, announced today that it has reached a confidential settlement in its patent infringement lawsuit with E. Mishan and Sons (“Emson”). Emson has agreed to an exclusive supply agreement to purchase market leading Cree® high power LEDs for its high performance tactical flashlights.

“Cree is pleased with the result of the litigation protecting its intellectual property rights," said Dave Emerson, Cree LEDs senior vice president and general manager. "Cree will continue to diligently protect consumers and vendors from the perils of unauthorized LEDs across multiple applications and markets. We look forward to working together with Emson to provide superior products that include genuine, high quality LED chips and components from Cree.”

Cree has developed an extensive LED patent portfolio after many years of intensive R&D, with numerous patents still pending.  Emson joins other leading flashlight manufacturers in using Cree’s patented high power LEDs. 

About Cree

Cree is a market-leading innovator of lighting-class LEDs, lighting products and power and radio frequency (RF) semiconductors. Cree’s product families include LED lighting systems and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree’s products are driving improvements in applications such as general illumination, electronic signs and signals, satellite communications, power supplies and 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 the risk that actual savings and lifetimes will vary from expectations; the risk we may be unable to manufacture these new products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk we may encounter delays or other difficulties in ramping up production of our new products; customer acceptance of our new 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 26, 2016, and subsequent filings.

Please refer to www.cree.com for additional product and Company information.

Cree® is a registered trademark of Cree, Inc.

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