CreeLED Inc. and Promier Products, Inc. (d/b/a LitezAll) Resolve Patent Dispute Through Limited License Agreement

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DURHAM, N.C.--(BUSINESS WIRE)-- Cree LED®, a Penguin Solutions brand (Nasdaq: PENG), and Promier Products, Inc. today announced that they have reached a mutually beneficial settlement resolving a patent infringement dispute involving Cree LED’s patents related to LED components used in portable lighting products. As part of the settlement, Cree LED has granted Promier Products a limited license to certain Cree LED patents covering LED components.

Cree LED is firmly committed to protecting its intellectual property.

Cree LED has established itself as a trusted brand in portable lighting applications, known for consistently high performance and reliable product quality. Cree LED is firmly committed to protecting its intellectual property and actively monitors the entire value chain of the global market to identify and address unauthorized use of its patented technologies. This vigilance ensures that Cree LED’s innovations remain protected and that customers can rely on the integrity and performance of the company’s industry-leading solutions.

Cree LED is a registered trademark of CreeLED, Inc. All other trademarks and registered trademarks are the properties of their respective owners.

About Cree LED

Cree LED, a Penguin Solutions brand, offers one of the industry’s broadest portfolios of application optimized LED chips and components, leading the industry in performance and reliability. With more than 35 years of innovation, our strong IP portfolio and unique business model are designed to support supply chain continuity. We deliver best-in-class technology and breakthrough solutions for focused applications in high power and mid-power general lighting, portable lighting, horticulture, specialty lighting and video screens. For more information, visit cree-led.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260831242793/en/

Media Relations
Melissa Sanders, Marketing Communications Specialist, Cree LED, Inc.
Melissa.Sanders@cree-led.com

Penguin Solutions
Maureen O’Leary, Director Communications
pr@penguinsolutions.com

Source: Penguin Solutions, Inc.

Key Terms

patent infringement regulatory

Patent infringement occurs when someone makes, uses, sells or imports a product or process that is covered by another party’s patent without permission — like copying a chef’s secret recipe and selling the dish without consent. For investors it matters because alleged infringement can trigger costly lawsuits, damage awards, sales bans or forced licensing, any of which can reduce revenue, increase expenses and hurt a company’s stock value.

limited license regulatory

A limited license is an official permit that allows a person or business to perform certain regulated activities but with clear restrictions on scope, duration, or conditions—like a learner’s permit that lets you drive under supervision and only in specific situations. For investors, it signals that operations or revenue-generating services may be constrained or subject to extra oversight, which can affect growth prospects, legal risk, and future profitability.