MagnaChip Semiconductor Corporation (NYSE:MX) Files An 8-K Other Events

MagnaChip Semiconductor Corporation (NYSE:MX) Files An 8-K Other Events
Item 8.01. Other Events.

On December 1, 2016, following a hearing on November 21, 2016 and an order dated November 21, 2016, the United States District Court for the Northern District of California (the “Court”) entered a supplemental order and final judgment (the “Judgment”) granting final approval of the Stipulation and Agreement of Settlement, dated February 5, 2016, providing for the settlement of the consolidated securities class action lawsuit, Thomas, et al. v. MagnaChip Semiconductor Corp. et al., Civil Action No. 3:14-CV-01160-JST (the “Class Action Litigation”). The settlement releases all claims asserted against all defendants in the Class Action Litigation except for Avenue Capital Management II, L.P. and is more fully described in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 11, 2015.

The Judgment is subject to appeal. In the event that no appeal is filed, the settlement will become effective at the expiration of the appeal period, which is 30 days from December 1, 2016, the date the Judgment was entered by the Court.

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About MagnaChip Semiconductor Corporation (NYSE:MX)

MagnaChip Semiconductor Corporation is a holding company, which designs and manufactures analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of things (IoT) applications. The Company provides technology platforms for analog, mixed-signal, power, high voltage, non-volatile memory and radio frequency applications. It operates through two segments: Foundry Services Group and Standard Products Group. Its Foundry Services Group provides specialty analog and mixed-signal foundry services for fabless and integrated device manufacturer semiconductor companies. Its Standard Products Group includes business lines: Display Solutions and Power Solutions. Its Display Solutions products provide flat panel display solutions to suppliers of large and small flat panel displays. Its Power Solutions products include discrete and integrated circuit solutions for power management in consumer, communication and industrial applications.

MagnaChip Semiconductor Corporation (NYSE:MX) Recent Trading Information

MagnaChip Semiconductor Corporation (NYSE:MX) closed its last trading session up +0.05 at 6.35 with 119,731 shares trading hands.

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