Trident Microsystems Announces Additional Inquiries Into Stock Option Practices
Friday June 16, 8:30 am ET
SUNNYVALE, Calif., June 16 /PRNewswire-FirstCall/ — Trident Microsystems, Inc.
(Nasdaq: TRID -
News) today announced that additional parties have taken action
and launched inquiries into its stock option practices.
Earlier this week the Company received a subpoena from the U.S. Attorney's
Offices for the Southern District of New York requesting information relating to
its past stock option grants. Trident said that it intends to cooperate with any
government or regulatory investigation into these matters, including the
Securities and Exchange Commission as to an informal inquiry it made into stock
option grants to officers in the 2000-2004 time frame in the fall of 2004.
Trident further disclosed it was served with a complaint relating to a lawsuit
filed in the United States District Court for the Northern District of
California filed by Viken Kalindjian, derivatively on behalf of Trident.
Trident also announced that on May 26 its Board of Directors appointed a special
committee of the Board to conduct an independent investigation relating to past
stock options granted to officers, directors and employees during the 1995 to
2004 timeframe. The special committee is composed of one independent member of
the Board who is currently being assisted by independent legal counsel and the
Board is currently seeking to expand to add an additional independent member who
will also serve on this special committee.
About Trident Microsystems, Inc.
Trident Microsystems, Inc., with headquarters in Sunnyvale, California, designs,
develops and markets digital media for the masses in the form of integrated
circuits (ICs) for HDTV, LCD TV, PDP TV, DLP TV, and DCRT. Trident's products
are sold to a network of OEMs, original design manufacturers and system
integrators worldwide. For further information about Trident and its products,
please consult the company's web site: http://www.tridentmicro.com.
NOTE: Trident is a registered trademark of Trident Microsystems, Inc. All other
company and product names are trademarks and/or registered trademarks of their
respective owners. Features, pricing, availability and specifications are
subject to change without notice.
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