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|ISSI Announces Preliminary Court Approval of Derivative Settlement; Detailed Notice to Shareholders Filed on Form 8-K|
|SAN JOSE, Calif., April 7, 2009 /PRNewswire-FirstCall via COMTEX/ -- 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 www.sec.gov and is linked to the Company's investor relations web page at 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 www.issi.com.
SOURCE Integrated Silicon Solution, Inc.