- TowerJazz (NASDAQ:TSEM) 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.
- Source: Press Release