Summary
KLA-Tencor Corporation (KLAC) filed an 8-K report on January 24, 2008, to disclose two significant events. The first, under Item 2.02, pertains to the release of selected operating results for its second fiscal quarter ending December 31, 2007, with detailed financial information to be found in the furnished press release (Exhibit 99.1). Investors should refer to this exhibit for specific revenue, earnings, and other key financial metrics for the quarter. The second major disclosure, under Item 8.01, announces an agreement in principle to settle a securities class action lawsuit related to historical stock option practices. The company has agreed to a payment of $65.0 million to the settlement class. This settlement, pending final agreement and court approval, would provide a full release for KLA-Tencor and its directors and officers from the allegations raised in the lawsuit.
Key Highlights
- 1KLA-Tencor released selected operating results for its second fiscal quarter ended December 31, 2007, via a press release furnished as Exhibit 99.1.
- 2The company reached an agreement in principle to settle a securities class action lawsuit concerning historical stock option practices.
- 3The proposed settlement requires KLA-Tencor to pay $65.0 million to the settlement class.
- 4This settlement, if finalized and approved by the court, will release the company and its officers/directors from the lawsuit's claims.
- 5The filing is dated January 24, 2008, and reports on events occurring up to January 23, 2008.
- 6The financial information provided in the press release is not considered 'filed' for purposes of Section 18 of the Exchange Act.