NEW YORK, May 14 (Reuters) - The U.S. Federal Trade Commission has dropped its antitrust complaint against Rambus Inc (RMBS.O), the memory chip technology maker said on Thursday, sending its shares higher.
The FTC, one of two U.S. agencies to enforce antitrust law, said Rambus had failed to tell a standard-setting group about patented technologies while advocating them as a new chip standard. The charges date back to 2002.
The dismissal comes after the U.S. Supreme Court in February declined to hear the FTC’s appeal in its suit that accused Rambus of “deceptive conduct.”
Rambus said the FTC had issued an order dismissing the remainder of its case, indicating it would not pursue further proceedings against the company.
Shares of Rambus were up 9.3 percent at $11.79 on Nasdaq on Thursday morning. (Reporting by Franklin Paul; Editing by Lisa Von Ahn)