hree shareholder derivative actions filed in California state court recently were dismissed with prejudice pursuant to stipulation and order. The dismissals of these actions occurred after final approval of the settlement in the federal shareholder derivative action. On October 17, 2013, the United States District Court for the Northern District of California granted final approval of the previously announced settlement of the consolidated federal shareholder derivative litigation captioned In re OCZ Technology Group, Inc. Shareholder Derivative Litigation, Lead Case No. 12-cv-05556-RS, and entered an order dismissing the federal derivative action with prejudice. There are no more shareholder derivative actions pending.
Bill, I believe you are right. Outstanding shareholder derivative lawsuits could have kept potential buyers from bidding on OCZ. I'm not sure what other lawsuits Pipster is referring to though, but this is certainly a step in the right direction!