The ruling of the federal district court in New York denied Credit Suisse's motion to vacate the award, also granting the Company's petition to affirm the award and directing Credit Suisse to pay the Company the unpaid balance. Based on the ruling the Company should receive approximately US$354 million, which includes approximately US$23 million of interest to date, in addition to the approximately US$75 million previously received in December upon selling a portion of these securities.
Please refer to our Annual Report on Form 20F filed with the SEC on March 10, 2010 for a more complete description of this matter.
About STMicroelectronics
STMicroelectronics is a global leader serving customers across the spectrum of electronics applications with innovative semiconductor solutions. ST aims to be the undisputed leader in multimedia convergence and power applications leveraging its vast array of technologies, design expertise and combination of intellectual property portfolio, strategic partnerships and manufacturing strength. Further information on ST can be found at www.st.com.
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| STMicroelectronics
Credit Suisse Investors: Tait Sorensen, Director, Investor Relations Phone: +1-602-485-2064 Email Contact Media: Maria Grazia Prestini, Group VP, Corporate Media and Public Relations, STMicroelectronics Phone: +41 22 929 6945 Email Contact Web: http://www.st.com |
