ESS Technology Settles Securities Suit For $3.5M

Law360, New York (August 3, 2007, 12:00 AM EDT) -- ESS Technology Inc. agreed to a $3.5 million dollar settlement deal to resolve class action securities litigation, bringing to a close several consolidated suits related to allegations that the digital video processor company and some of its officers and directors disseminated false and misleading statements to inflate ESS stock, and took advantage of the high price by selling shares.

U.S. District Judge Ronald M. Whyte of the U.S. District Court for the Northern District of California entered a Final Judgment and Order of Dismissal with Prejudice...
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