TowerJazz Announces Dismissal of Securities Class Action

MIGDAL HAEMEK, Israel, July 28, 2016 (GLOBE NEWSWIRE) -- TowerJazz (NASDAQ/ TASE: TSEM), the global specialty foundry leader, announced today the dismissal of the securities action filed earlier this year in the United States District Court for the Central District of California, following the plaintiffs request for voluntary dismissal.  There were no settlement payments or any other considerations involved in the withdrawal and dismissal of the lawsuit. The Company will not bear any financial costs since all legal and other relevant expenses are covered by its insurance policy.

The company has and will continue its focus on shareholder value through smart business growth and commensurate financial performance.

Safe Harbor Regarding Forward-Looking Statements
This press release includes forward-looking statements, which are subject to risks and uncertainties. Actual results may vary from those projected or implied by such forward-looking statements. A complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this press release or which may otherwise affect TowerJazz's business is included under the heading "Risk Factors" in Tower's most recent filings on Forms 20-F and 6-K, as were filed with the Securities and Exchange Commission and the Israel Securities Authority. TowerJazz does not intend to update, and expressly disclaims any obligation to update, the information contained in this release.

About TowerJazz
Tower Semiconductor Ltd. (NASDAQ: TSEM, TASE: TSEM) and its fully owned U.S. subsidiaries Jazz Semiconductor, Inc. and TowerJazz Texas Inc., operate collectively under the brand name TowerJazz, the global specialty foundry leader. TowerJazz manufactures integrated circuits, offering a broad range of customizable process technologies including: SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management (BCD and 700V), and MEMS. TowerJazz also provides a world-class design enablement platform for a quick and accurate design cycle as well as Transfer Optimization and development Process Services (TOPS) to IDMs and fabless companies that need to expand capacity.

To provide multi-fab sourcing and extended capacity for its customers, TowerJazz operates two manufacturing facilities in Israel (150mm and 200mm), two in the U.S. (200mm) and three additional facilities in Japan (two 200mm and one 300mm) through TowerJazz Panasonic Semiconductor Co. (TPSCo), established with Panasonic Corporation of which TowerJazz has the majority holding. Through TPSCo, TowerJazz provides leading edge 45nm CMOS, 65nm RF CMOS and 65nm 1.12um pixel technologies, including the most advanced image sensor technologies. For more information, please visit www.towerjazz.com or www.tpsemico.com.

CONTACTS:
Noit Levi | TowerJazz | +972 4 604 7066 | noitle@towersemi.com
Gavriel Frohwein | GK Investor Relations | (646) 688 3559 | towerjazz@gkir.com

Press Release (PDF) http://hugin.info/167229/R/2031363/755815.pdf




Review Article Be the first to review this article

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
H-1B Visa: de Geus’ tragedy looms large
Peggy AycinenaIP Showcase
by Peggy Aycinena
IP for Cars: Lawsuits are like Sandstorms
More Editorial  
Jobs
Technical Support Engineer EU/Germany/UK for EDA Careers at N/A, United Kingdom
Mechanical Designer/Engineer for Palo Alto Networks at Santa Clara, CA
Staff Software Engineer - (170059) for brocade at San Jose, CA
ASIC/FPGA Design Engineer for Palo Alto Networks at Santa Clara, CA
Lead Java Platform Engineer IOT-WEB for EDA Careers at San Francisco Area, CA
Technical Support Engineer for EDA Careers at Freemont, CA
Upcoming Events
EDI CON China 2017! at Shanghai Convention & Exhibition Center of International Sourcing (SHCEC) No.2739 West Guangfu Road Putuo District, Shanghai (200062) China - Apr 25 - 27, 2017
2017 SEMICON Southeast Asia at SPICE Arena Penang Malaysia - Apr 25 - 27, 2017
2017 IoT Developers Conference at Santa Clara Convention Center California - Apr 26 - 27, 2017
Embedded Systems Conference ESC Boston 2017 at Boston Convention & Exhibition Center Boston MA - May 3 - 4, 2017
DAC2017



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