Himax Technologies, Inc. ("Himax" or the Company) is a Taiwanese company that manufactures and supplies fabless semiconductors.

According to a press release dated August 18, 2007, a lawsuit seeking class action status was filed in the United States District Court for the Central District of California on behalf of all persons (the "Class") who purchased the securities of Himax pursuant to the Company's March 30, 2006 Initial Public Offering ("IPO"). The Complaint names the Company's Chief Financial Officer as a Defendant.

Specifically, the Complaint alleges that during the Class Period, Defendant violated Sections 11, 12(a)(2) and 15 of the Securities Act of 1934, and also breached his fiduciary duties. Specifically, the Complaint alleges that the Defendant made certain false and/or misleading statements in the Prospectus issued in connection with the Company's IPO. Furthermore, the Complaint alleges that the Prospectus failed to disclose that Himax's primary operations faced an imminent reduction in customer demand due to unusually high inventory levels being experienced by the Company's customers.

On February 4, 2008, Judge Dean D. Pregerson granted the motion to consolidated two related cases. The Himax Investor Group was named lead Plaintiff and the law firms Rosen Law Firm P.A. and Glancy Binkow & Goldberg LLP was approved as co-lead Counsel. Plaintiffs filed their First Amended Class Action Complaint on February 25, 2008. On August 4, 2008, Himax filed a motion to dismiss pursuant to Federal Rule of Civil Procedure 12(b)(6) for failure to state a claim. That motion was joined by Defendants Jordan Wu and Chan. The Court heard argument on November 24, 2008.

On February 6, 2009, the Plaintiff filed a motion for preliminary approval of settlement. According to the Stipulation of Settlement, the proposed settlement amount is in the amount of $1,200,000. The proposed settlement was preliminarily approved on April 23, 2009. On July 28, 2009, Judge Dean D. Pregerson awarded Plaintiffs' Counsel attorneys' fees of 25% of the Settlement Fund of $1,200,000.00 and reimbursement of litigation expenses in the amount of $47,576.73. On September 25, 2009, Judge Pregerson signed the Order and Final Judgment approving the settlement and dismissing the action with prejudice.