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Case Status:    SETTLED
On or around 10/06/2009 (Date of order of final judgment)

Filing Date: June 08, 2001

According to the Company’s FORM 10-K for the fiscal year ended December 30, 2005, a tentative settlement has recently been reached between the plaintiffs and all defendant stock issuers, with ongoing negotiations as to the specific terms of the settlement agreement. Under that agreement, the Company would not be required to pay any damages, expenses or litigation costs to the plaintiffs. When negotiations are completed and the parties have agreed upon the final terms of the settlement agreement, the agreement must be approved by the court before dismissal of us and other parties to the agreement from the suit. On February 15, 2005, the Judge preliminarily approved the issuer’s settlement agreement. Final approval is subject to certain revisions requested by the Judge, notice to the affected class members, and a final hearing.


As summarized by the same SEC filing, the Company and certain of its present officers and directors as well as its lead initial public offering underwriter and lead underwriter of our September 2000 initial public offering, Credit Suisse First Boston Corporation, were named as defendants in several law suits, the first of which is a class action filed on June 8, 2001 in the United States District Court for the Southern District of New York. These lawsuits against the Company, as well as those alleging similar claims against other issuers in initial public offerings, have been consolidated for pre-trial purposes with a multitude of other securities related suits. In April 2002, the plaintiffs filed a consolidated amended complaint against the Company and certain of its officers and directors. The consolidated amended complaint pleads claims under both the 1933 Securities Act and under the 1934 Securities Exchange Act. In addition to the allegations of wrongdoing described above, plaintiffs also now allege that analysts employed by underwriters who were acting as investment bankers for the Company improperly touted the value of its shares during the relevant class period as part of the purported scheme to artificially inflate the value of the Company's shares. In October 2002, the individual employee defendants were dismissed from the class action suit. The plaintiffs seek unspecified damages, litigation costs and expenses.

The complaint alleges that defendants Intersil, certain individuals and Credit Suisse First Boston Corporation violated Section 10(b) of the Securities Act of 1934 and Rule 10b-5 promulgated thereunder for issuing a Registration Statement and Prospectus (the ``Prospectus'') that contained material misrepresentations and/or omissions. The Prospectus was issued in connection with the Intersil IPO. The complaint alleges that the Prospectus was false and misleading because it failed to disclose (i) Credit Suisse's agreement with certain investors to provide them with significant amounts of restricted Intersil shares in the IPO in exchange for exorbitant and undisclosed commissions; and (ii) the agreement between Credit Suisse and certain of its customers whereby Credit Suisse would allocate shares in the IPO to those customers in exchange for the customers' agreement to purchase Intersil shares in the after-market at pre-determined prices.

COMPANY INFORMATION:

Sector: Technology
Industry: Semiconductors
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ISIL
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 01-CV-5144
JUDGE: Hon. Alvin K. Hellerstein
DATE FILED: 06/08/2001
CLASS PERIOD START: 02/25/2000
CLASS PERIOD END: 12/06/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Beatie & Osborne LLP
    599 Lexington Avenue, 42nd Floor, Beatie & Osborne LLP, NY 10022
    212.888.9000 212.888.9664 ·
  2. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  3. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 01-CV-5144
JUDGE: Hon. Alvin K. Hellerstein
DATE FILED: 04/19/2002
CLASS PERIOD START: 02/24/2000
CLASS PERIOD END: 12/06/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Milberg Weiss Bershad & Schulman LLP (New York)
    One Pennsylvania Plaza, 49th Floor, Milberg Weiss Bershad & Schulman LLP (New York), NY 10119
    212.594.5300 212.868.1229 · info@milbergweiss.com
  3. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  4. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  5. Sirota & Sirota LLP
    110 Wall Street 21st Floor, Sirota & Sirota LLP, NY 10005
    888.759.2990 212.425.9093 · Info@SirotaLaw.com
  6. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
  7. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date