Seventh Investigation Vs. SST, by Law Offices of Howard G. Smith

Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Silicon Storage Technology, Inc. related to the Company’s agreement to be acquired by Microchip Technology Incorporated and its wholly owned subsidiary Sun Acquisition Corporation. The transaction is valued at approximately $284 million.

Under the terms of the definitive merger agreement entered into by the parties, Microchip will acquire all of the outstanding common stock of Silicon Storage for $2.85 per share in cash, and Sun Acquisition Corp. will be merged with and into Silicon Storage. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the merger agreement by the Silicon Storage board of directors.