SanDisk Corp. M-Systems Acquisition

August 11 2006

Two lawsuits have been filed and are seeking class action status against the storage card company regarding its proposed acquisition of M-Systems Ltd. The lawsuits claim executives and directors at M Systems breached their fiduciary duty by backdating stock options and sought to further their own interests by approving the merger; it alleges all of these actions were aided and abetted by SanDisk. Both lawsuits were filed in the California Superior Court for Santa Clara County on behalf of M-Systems Ltd. shareholders.

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