News Posts matching "Settlement"

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AMD Announces Initial Settlement of Tender Offer for Its 8.125% Senior Notes

Advanced Micro Devices, Inc. (NYSE: AMD) announced today that AMD has settled all 8.125% Senior Notes due 2017 ("8.125% Notes") that were tendered, but not validly withdrawn, at or prior to 12:00 midnight, New York City time, on June 19, 2014 (the "Consent Deadline") pursuant to its previously announced tender offer (the "Tender Offer") and consent solicitation (the "Consent Solicitation") with respect to any and all of its outstanding 8.125% Notes. The Tender Offer will expire at 12:00 midnight, New York City time, on July 3, 2014 unless extended or earlier terminated by AMD.

Under the terms of the Tender Offer, holders of 8.125% Notes who (i) validly tendered their 8.125% Notes at or prior to the Consent Deadline and (ii) consented to certain proposed amendments (the "Proposed Amendments") in the Consent Solicitation to reduce the minimum notice period required in connection with redemption of 8.125% Notes from 30 days to 3 business days were entitled to receive a total payment of $1,045.88 for each $1,000 principal amount of 8.125% Notes purchased pursuant to the Tender Offer.

OCZ Announces Settlement of Consolidated Shareholder Class Action Litigation

OCZ Technology Group, Inc., a leading provider of high-performance solid-state drives (SSDs) and power management solutions for computing devices and systems, today announced that it has reached a settlement in principle in the federal shareholder class action litigation filed in connection with the Company's financial restatement.

The settlement is subject to negotiation of final documentation and court approval. Subject to Court approval, the settlement of $7.5 million will be funded by the Company's D&O liability insurance. The settlement may include an additional payment of the lesser of $6M or 4% of the net proceeds in the event that the company or any portion of it is sold within six months of the executed settlement agreement. This settlement would resolve the consolidated shareholder class actions pending in connection with the restatement.

Toshiba Announces Settlement in a U.S. Class Action for LCD Price Fixing

Toshiba Corporation announced today that it has settled claims of alleged antitrust violations in the LCD business brought by direct purchasers of LCD panels and certain products containing such panels. Toshiba will pay US$30 million, and the Plaintiffs will relinquish all claims for damages, fees, costs and other relief. The agreement is subject to approval by the U.S. District Court for the Northern District of California (San Francisco).

This settlement follows an $87 million July 3 jury verdict against Toshiba. While Toshiba expected to file a motion for judgment notwithstanding the verdict and an appeal if necessary to overturn the jury verdict, Toshiba settled to avoid the inconvenience associated with further prolonged litigation. Toshiba admits no wrongdoing as part of this settlement, and it continues to maintain that it did not engage in illegal activity.

At this time, Toshiba does not plan to revise projections for fiscal 2012 business performance due to this matter.

Micron Technology Settles Lawsuit With Oracle

Micron Technology, Inc., announced today that it reached an agreement with Oracle America Inc. to settle a lawsuit filed by Oracle against Micron in the U.S. District Court for the Northern District of California.

The lawsuit alleged a conspiracy to increase DRAM prices and other violations of federal and state antitrust and unfair competition laws based on purported conduct for the period from Aug. 1, 1998, through at least June 15, 2002, and sought joint and several damages, trebled, as well as restitution, disgorgement, attorneys' fees, costs and injunctive relief. Pursuant to the settlement agreement, the parties agreed to a settlement and release of all claims and a dismissal with prejudice of the litigation.
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