UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
April 28, 2005
AMKOR TECHNOLOGY, INC.
| DELAWARE | 000-29472 | 23-1722724 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
1345 ENTERPRISE DRIVE
WEST CHESTER, PA 19380
(Address of Principal Executive Offices, including Zip Code)
(610) 431-9600
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||
Item 1.01. Entry Into a Material Definitive Agreement.
On April 28, 2005 Amkor Technology, Inc. (“Amkor”) reached a settlement with Fujitsu Limited with respect to pending litigation (the “Fujitsu case”) involving allegedly defective epoxy mold compound. As part of a broader settlement agreement among all parties to this matter, Amkor has agreed to pay $40 million in consideration of a release from all claims related to this litigation. Amkor will continue to incur legal expenses in defense of the other pending cases related to the mold compound litigation matter. These other pending cases are more fully discussed in Amkor’s December 31, 2004 Form 10-K.
As a result of this settlement, Amkor will record a charge of $40 million (with no associated tax benefit) in the Consolidated Statement of Operations for the three months ended March 31, 2005. A copy of the press release related to this settlement is attached to this Form 8-K as Exhibit 99.1.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AMKOR TECHNOLOGY, INC. |
||||
| By: | /s/ Kenneth T. Joyce | |||
| Kenneth T. Joyce | ||||
| Chief Financial Officer | ||||
Date: May 3, 2005
EXHIBIT INDEX:
99.1 Text of Press Release dated April 28, 2005
Exhibit 99.1
|
News Release |
Amkor Reaches Settlement in Fujitsu Mold Compound Litigation
CHANDLER, Ariz., April 28, 2005 — Amkor Technology, Inc. (NASDAQ: AMKR) said today that it has reached settlement with Fujitsu Limited with respect to pending litigation (“the Fujitsu case”) involving allegedly defective mold compound. As part of a broader settlement agreement reached among Fujitsu, Cirrus Logic Inc. and Sumitomo Bakelite Co., Amkor has agreed to pay Fujitsu $40 million in consideration of a release from all claims related to this case. In connection with this settlement, Amkor will record a charge of $40 million (with no associated tax benefit) or ($0.22) per share, in the Consolidated Statement of Operations for the three months ended March 31, 2005.
Amkor previously announced resolution of cases involving Philips and Seagate. Amkor will continue to incur legal expenses in defense of the pending mold compound cases with Maxim and Fairchild. While these cases are in the early stages of discovery, management is confident based on current information that these two pending cases, which are more fully disclosed in Amkor’s December 31, 2004 Form 10-K, involve substantially smaller damage claims against Amkor than the Fujitsu case.
About Amkor:
Amkor Technology, Inc. is a leading provider of contract semiconductor assembly and test services.
The company offers semiconductor companies and electronics OEMs a complete set of microelectronic
design and manufacturing services. More information on Amkor is available from the company’s SEC
filings and on Amkor’s web site: www.amkor.com.
Contact:
Amkor Technology
Jeffrey Luth
VP Corporate Communications
(480) 821-2408 Ext. 5130
jluth@amkor.com