ISSI Announces Preliminary Court Approval of Derivative Settlement; Detailed Notice to Shareholders Filed on Form 8-K
April 07 2009 - 1:19PM
PR Newswire (US)
SAN JOSE, Calif., April 7 /PRNewswire-FirstCall/ -- Integrated
Silicon Solution, Inc. (NASDAQ:ISSI) announced today that the
United States District Court for the Northern District of
California has granted preliminary approval of the previously
disclosed settlement of In re Integrated Silicon Solution, Inc.
Shareholder Derivative Litigation, Case No.: C-06-04387 RMW (N.D.
Cal.), a consolidated shareholder derivative action that alleges
various claims for relief in connection with the Company's granting
of certain historical stock options. The proposed settlement is
subject to final Court approval. The Court has set a final approval
hearing for June 5, 2009 at 9:00 a.m. in the courtroom of the Hon.
Ronald Whyte, United States District Judge. As required by the
Court's Preliminary Approval Order, ISSI is filing today with the
Securities and Exchange Commission a Current Report on Form 8-K
that provides shareholders with detailed notice of the terms of the
proposed settlement. The notice also contains important information
regarding the rights of shareholders with respect to this proposed
settlement. We encourage shareholders to read the notice in its
entirety. This notice can be found at http://www.sec.gov/ and is
linked to the Company's investor relations web page at
http://www.issi.com/. About the Company ISSI is a fabless
semiconductor company that designs and markets high performance
integrated circuits for the following key markets: (i) digital
consumer electronics, (ii) networking, (iii) mobile communications,
(iv) automotive electronics, and (v) industrial. The Company's
primary products are high speed and low power SRAM and low and
medium density DRAM. The Company also designs and markets EEPROM,
SmartCards and is developing selected non-memory products focused
on its key markets. ISSI is headquartered in Silicon Valley with
worldwide offices in Taiwan, China, Europe, Hong Kong, India,
Korea, Singapore, and Japan. Visit our web site at
http://www.issi.com/. DATASOURCE: Integrated Silicon Solution, Inc.
CONTACT: John M. Cobb, Vice President & CFO, Investor Relations
of Integrated Silicon Solution, Inc., +1-408-969-6600, Web Site:
http://www.issi.com/
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