Schatz & Nobel, P.C. Announces Class Action Lawsuit Against Silicon Storage Technology, Inc. HARTFORD, Conn., Jan. 21 /PRNewswire/ -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of California on behalf of all persons who purchased the publicly traded securities of Silicon Storage Technology, Inc. (NasdaqNM: SSTI) ("Silicon Storage") between March 30, 2004 and December 20, 2004 (the "Class Period"). The Complaint alleges that Silicon Storage violated federal securities laws by issuing false or misleading public statements. Specifically, the Complaint alleges that Silicon Storage concealed the following facts: that its sales and margins were being materially impacted by Macronix and Intel's actively lowering their average selling prices; that Silicon Storage was not on track to achieve its profitability projections; and that its gross margin projections were overstated. On December 20, 2004, Silicon Storage issued a press release announcing that "its revenue in the fourth quarter is expected to be between $102 and $108 million versus previous guidance of $120 to $130 million. Due to current market conditions, the company expects to record an inventory charge of between $20 and $25 million for excess inventory and to write certain products down to their current estimated market values." On this news, Silicon Storage shares fell from a close of $7.01 per share on December 20, 2004, to close at $5.99 per share on December 21, 2004 on unusually high trading volume. If you are a member of the class, you may, no later than March 22, 2005, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s). For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at . To view a copy of the lawsuit initiating the class action, or for more information about class action cases and Schatz & Nobel, please visit our website: http://www.snlaw.net/. CONTACT: Wayne T. Boulton Tel.: (800) 797-5499 Website: http://www.snlaw.net/ e-mail: DATASOURCE: Schatz & Nobel, P.C. CONTACT: Wayne T. Boulton of Schatz & Nobel, +1-800-797-5499, Web site: http://www.snlaw.net/

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