M Systems Flash Disk (NASDAQ:FLSH)
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msystems (Nasdaq:FLSH), a leader in smart personal
storage, commented today on recent press reports.
There have been reports in the news media concerning a rumored
sale of msystems. The Company has no comment on this subject, and
investors should make no assumptions concerning the existence or
non-existence of discussions concerning a potential transaction or the
accuracy of any other information, or statements or purported
statements, about such a transaction contained in such reports.
In addition, concerning recent press reports on the Company's
announcement last week of the results of the investigation of a
special committee of the Board with respect to prior stock option
grants, the Company, its directors and its executive officers
confirmed that the position of the Company concerning such
investigation is contained exclusively in the Company's Annual Report
on Form 20-F filed with the Securities and Exchange Commission last
week.
In this regard, Dov Moran, chief executive officer and president,
msystems, commented: "The Form 20-F contains a detailed discussion of
this matter. Of course I am not happy that a number of things were not
done right, and regret that this has forced us to divert some time
from building our business. There are important lessons here, which I
and others must and will take into account. While we are proud of our
core business and values, our Board has adopted a variety of important
corrective measures, which are discussed in the Form 20-F, and we are
implementing them to ensure that we do things right and are a stronger
company for it."
About msystems
msystems has been transforming raw flash material into smarter
storage solutions since 1989. From embedded flash drives deployed in
millions of mobile handsets to U3 USB smart drives designed for
leading global brands, msystems creates, develops, manufactures and
markets smart personal storage solutions for a myriad of applications
targeting high growth markets.
More information is available online at www.m-systems.com.
msystems. made smarter.
Certain statements in this press release are "forward-looking
statements" under the Private Securities Litigation Reform Act of
1995. There can be no assurance that forward-looking statements will
be achieved. msystems makes no commitment to revise or update any
forward-looking statements except as otherwise required by law.