Barrack, Rodos & Bacine Announces an Investigation Into Silicon Storage Technology, Inc.

PHILADELPHIA, Nov 13, 2009 (BUSINESS WIRE) -- Barrack, Rodos & Bacine is investigating potential claims against the board of directors of Silicon Storage Technologies, Inc. (NYSE:SSTI) ("Silicon Storage" or the "Company").

On November 13, 2009, Silicon Storage announced that they had signed a definitive agreement with Technology Resource Holdings, Inc., a Prophet Equity LP-controlled entity, and members of Silicon Storage's management team to acquire all outstanding shares for $2.10 per share in cash. This is only a 13% premium to the previous day's closing price of the shares and values the company at $201 million. Shares have traded above $2.10 per share as recently as October 29, 2009, and have traded higher than the offer price since the acquisition announcement was made public.

The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the acquisition proposal made between Prophet Equity LP and the board of directors of Silicon Storage. If you own shares in Silicon Storage and would like to learn more about these potential claims or wish to discuss the matter further, please contact Sam Ward or Julie Palley of Barrack, Rodos & Bacine, 3300 Two Commerce Square, 2001 Market Street, Philadelphia, PA 19103, by telephone at [phone].

SOURCE: Barrack, Rodos & Bacine CONTACT: Barrack, Rodos & Bacine Sam Ward, Esq., 215-963-0600 or Julie Palley, Esq. 215-963-0600 [e-mail] www.barrack.com Copyright Business Wire 2009 -0- KEYWORD: United States

North America

Pennsylvania INDUSTRY KEYWORD: Professional Services

Legal SUBJECT CODE: Lawsuit