More or less, if things were "really bad" and that was the "true reason" for the almost 1 year delay... then this is a great sign given that things are coming to an end, and slightly favors $OCZ. We do not know about the others, so we can wait and sift through the rest.
Pending legal proceedings must be disclosed / covered in 10Qs / 10Ks.......unfortunately, the one last one filed was for the period ending 5/31/2012.
Someday, Pandoras box will be opened for all to know the true extent of all shareholder suits for recovery of loses.
In this case, a shareholder derivative action, an individual or institutional shareholder, serving as a representative plaintiff, takes legal action on behalf of the corporation. The shareholder derivative action is typically brought against insiders of the company, such as the executive officers, directors, and/or board members, who are suspected of misconduct or other acts that cause harm to the corporation. A shareholder derivative action allows shareholders to redress harm to the corporation caused by management where it is unlikely that management will redress the harm itself. By filing a shareholder derivative action, a single shareholder may be able to compel changes that otherwise might not happen at the company, such as pro-investor corporate governance reform, removal of officers or directors whose misconduct injured the corporation, and monetary payments in the form of damages and/or disgorgement (recovery) of ill-gotten gains.
Corporate Misconduct that Can Be Addressed by Shareholder Derivative Litigation
Breaches of fiduciary duty
Fraud or other unlawful activity
Self-dealing or greed by insiders
Conflict of interest
Waste of corporate assets
Inflated, false, or misleading financial statements
Improprieties related to executive compensation
Conduct leading to Department of Justice or SEC investigations
O and of course they are going to settle.. they can't possibly take this to court and win. LOL
Wrong? sure chump. Just sit back and wait for the rest to settle. Now that the other suits can see OCZ will fold its hand you know they will push them for all they have. I say great, OCZ avoids costly litigation and the insurance company get slammed, burned share holders get something back.