SiliconBeat

Integrated Silicon Solution fired a warning shot at potential acquirers last week when its board adopted an “ISSI Stockholder Rights Policy” that fell short of putting a plan in place but emphasized that “in the event that (the company) is the target of coercive or abusive takeover tactics, including opportunistic bids which fail to adequately take into account (the company’s) long-term value”, it was prepared to adopt a “stockholder rights plan,” AKA a poison pill.

The fabless San Jose semiconductor company has attracted two new greater-than-five-percent shareholders this year, Read the rest of this entry »

A day after repricing underwater options held by a couple hundred of its employees, Integrated Silicon Solutions filed details Tuesday of a proposed settlement of a lawsuit against the company and some of its current and past executives and members of its board over allegations of stock option backdating.

Although the defendants in the matter — including the company’s chief executive, Jimmy Lee — deny “each and every allegation” made in the complaint, Read the rest of this entry »

Two more Silicon Valley companies joined the ranks of those offering to exchange some of their employees underwater options with options repriced at more current market rates. On Friday, Smart Modular, the Fremont maker of electronic subsystems, filed its preliminary proxy, which included a proposal to reprice options for its employees — those that are left after the company finishes laying off the 19 percent of its workforce that it said it would back in September.

Under Smart Modular’s proposal, certain employees would be permitted to exchange options with an exercise price higher than Read the rest of this entry »