Wednesday, June 10, 2009

Intersil Litigation Update

I recently thought about buying a few shares of Intersil (ISIL), which is embroiled in litigation against a Texas company called Texas Advanced Optoelectronic Solutions, Inc. ("TAOS"). I reviewed the online docket, and there's not much going on. The parties have entered into a standard protective order to protect confidential information and have chosen to mediate. Former Magistrate Judge Robert Faulkner is the mediator:

The most recent docket activity was the assignment to mediation. Short interest increased in ISIL shares recently. ISIL should be an interesting stock to follow, especially because it supplies some iPhone parts, and the litigation relates to ISIL's iPhone business.

Disclosure: I own one ISIL share.

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