Tripath Agrees to Settle Derivative Shareholder Litigation

SAN JOSE, Calif.—(BUSINESS WIRE)—July 24, 2006— Tripath Technology Inc. (OTCBB: TRPH) today announced it has entered into a Stipulation of Settlement of Derivative Claims (the Stipulation) to settle the derivative shareholder litigation entitled Lyon v. Tripathi et al., Case No. 104CV031905, pending in the Superior Court of the State of California, County of Santa Clara (the Court) against Tripath and certain of its current and former officers and/or directors (the Derivative Action).

Under the terms of the Stipulation, the parties agreed the Derivative Action will be dismissed in exchange for implementation of certain corporate governance changes and payment of plaintiff's attorneys' expenses in an amount not to exceed $6,000.00. Except for this payment, the parties shall bear their own attorneys' fees in connection with the Derivative Action. The Stipulation remains subject to the satisfaction of various conditions, including without limitation final approval of the Stipulation by the Court.

"This settlement puts the derivative securities litigation behind Tripath at minimal expense," said Jeffrey L. Garon, Tripath's Vice President, Finance and Chief Financial Officer.

About Tripath Technology Inc.

Based in San Jose, California, Tripath Technology Inc. is a fabless semiconductor company that focuses on providing highly efficient power amplification to the digital media, consumer electronics and communications markets. Tripath owns the patented technology called Digital Power Processing(R) (DPP), which leverages modern advances in digital signal processing and power processing. Tripath markets audio amplifiers with DPP under the brand name Class-T(R). Tripath's current customers include, but are not limited to, companies such as Alcatel, Alpine, Hitachi, JVC, Sanyo, Sharp, Sony and Toshiba. For more information on Tripath, please visit Tripath's web site at www.tripath.com.



Contact:
Tripath Technology Inc.
Jeffrey L. Garon, 408-750-6801

Email Contact
or
Lippert / Heilshorn & Associates, Inc. 
Kirsten Chapman, 415-433-3777 (Investors)

Email Contact



Review Article Be the first to review this article
Featured Video
Jobs
FAE FIELD APPLICATIONS SAN DIEGO for EDA Careers at San Diego, CA
ASIC FPGA Verification Engineer for General Dynamics Mission Systems at Bloomington, MN
Sr. Staff Design SSD ASIC Engineer for Toshiba America Electronic Components. Inc. at San Jose, CA
Principal Engineer FPGA Design for Intevac at Santa Clara, CA
Development Engineer-WEB SKILLS +++ for EDA Careers at North Valley, CA
Senior DSP Architect / System Engineer for General Dynamics Mission Systems at Scottsdale, AZ
Upcoming Events
DVCon 2017 Conference at DoubleTree Hotel San Jose CA - Feb 27 - 2, 2017
IoT Summit 2017 at Great America ballroom, Santa Clara Convention Center Santa Clara CA - Mar 16 - 17, 2017
SNUG Silicon Valley 2017 at Santa Clara Convention Center Santa Clara CA - Mar 22 - 23, 2017
CDNLive Silicon Valley 2017 at Santa Clara Convention Center Santa Clara CA - Apr 11 - 12, 2017
TrueCircuits: IoTPLL



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy