FORM FormFactor Inc

RADNOR, Pa., Dec. 3 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin Barroway Topaz & Kessler, LLP: Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Northern District of California on behalf of all purchasers of securities of FormFactor, Inc. (NASDAQ:FORM) ("FormFactor" or the "Company") from April 26, 2006 through October 24, 2007, inclusive (the "Class Period"). If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin Barroway Topaz & Kessler, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at . The Complaint charges FormFactor and certain of its officers and directors with violations of the Securities Exchange Act of 1934. FormFactor designs, develops, manufactures, sells and supports precision semiconductor wafer probe cards. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company had improperly accounted for its obsolete inventory; (2) that the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles; (3) that the Company lacked adequate internal and financial controls; and (4) that, as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times. On October 24, 2007, the Company shocked investors when it announced its third quarter 2007 financial and operational results. The Company stated that it was unable to release further income statement data with respect to the third quarter as it was reviewing its historic practices with respect to inventory valuation in light of "issues." Management further stated that it believed that adjustments to inventory valuations "may be required with respect to periods prior to the third quarter of 2007," potentially changing inventory, gross margin, operating margin and net income from the amounts previously reported for the affected periods. Additionally, the Company disclosed that it could not determine the magnitude of these adjustments, or whether the adjustments would be reflected in the third quarter financial statements or in a restatement of the affected periods. On this news, the Company's shares fell $7.70 per share, or over 17.8 percent, to close on October 25, 2007 at $35.54 per share, on unusually heavy trading volume. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin Barroway Topaz & Kessler which prosecutes class actions in both state and federal courts throughout the country. Schiffrin Barroway Topaz & Kessler is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. For more information about Schiffrin Barroway Topaz & Kessler or to sign up to participate in this action online, please visit http://www.sbtklaw.com/ If you are a member of the class described above, you may, not later than December 31 2007, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. CONTACT: Schiffrin Barroway Topaz & Kessler, LLP Darren J. Check, Esq. Richard A. Maniskas, Esq. 280 King of Prussia Road Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706 Or by e-mail at DATASOURCE: Schiffrin Barroway Topaz & Kessler, LLP CONTACT: Darren J. Check, Esq. or Richard A. Maniskas, Esq., 1-888-299-7706 (toll free), or +1-610-667-7706, , both of Schiffrin Barroway Topaz & Kessler, LLP Web site: http://www.sbtklaw.com/

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