AP NEWS

AKHAN Statement on IP Theft

February 4, 2019

CHICAGO--(BUSINESS WIRE)--Feb 4, 2019--AKHAN Semiconductor recently cooperated with a U.S. federal investigation into what appears to be a theft of its intellectual property by Huawei Technologies Co., Ltd. When AKHAN agreed to send its proprietary Miraj Diamond® technology to Huawei pursuant to an agreement, AKHAN expected that Huawei would abide by the agreement and its material would be returned unharmed. Unfortunately, AKHAN believes that Huawei destroyed our product, shipped it to China without authorization, subjected it to tests that it was not authorized to conduct, and returned most of it to us in pieces. We still have not recovered all of our product from Huawei, despite repeated written and oral requests and inquiries to Huawei.

AKHAN takes seriously any unlawful use of its technology. The theft of any AKHAN assets, attempted or successful, will be not be tolerated. AKHAN will continue to cooperate with law enforcement and work towards an expedient resolution to this matter. Given the threat that Huawei’s apparent theft poses to AKHAN shareholders, employees, and customers-- and the potential loss to U.S. jobs, revenue, and other projected economic impact-- AKHAN is considering any and all legal remedies available, and will work with the involved parties to make public the relevant information to all stakeholders to the extent it can do so. AKHAN is committed to acting with integrity and conducting its business in a safe, ethical and legal manner.

Since its creation in early 2013, AKHAN Semiconductor, an Illinois corporation, has garnered global attention with its proprietary diamond-based materials and device solutions. From research and development work maintaining U.S. competitiveness in the advanced materials market, to the creation of new high-technology manufacturing and other STEM jobs, AKHAN is publicly committed to maximizing domestic economic impact with the commercialization of our Miraj Diamond® technology.

For more information, please contact Christopher Fox at 847.855.8400 or email at  chris@akhansemi.com.

About AKHAN

AKHAN is a technology company specializing in the fabrication and application of electronics-grade diamonds as functional semiconductors. AKHAN is headquartered in Gurnee, Lake County, Illinois. Additional information about AKHAN is available on the Company’s website at https://www.akhansemi.com/.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190204005211/en/

CONTACT: Thompson Coburn LLP

Renato Mariotti, 312-580-5056AKHAN Semiconductor

Christopher Fox, 847-855-8400

chris@akhansemi.com

www.akhansemi.com

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS

INDUSTRY KEYWORD: TECHNOLOGY SEMICONDUCTOR

SOURCE: AKHAN Semiconductor

Copyright Business Wire 2019.

PUB: 02/04/2019 07:00 AM/DISC: 02/04/2019 07:01 AM

http://www.businesswire.com/news/home/20190204005211/en

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