NEW YORK, Oct. 25, 2007 (PRIME NEWSWIRE) -- Roy Jacobs & Associates announces that it is investigating possible securities and other legal violations regarding the announcement today by FormFactor Inc. ("FormFactor" or the "Company") (Nasdaq:FORM) that it is unable to complete its third quarter financial statements. The Company revealed that it may have to adjust inventory valuations for periods prior to the third quarter of 2007, which adjustments could affect inventory, gross margins, operating margin and net income for the affected periods. As a result of this announcement, which calls into question the validity of the Company's prior reported financial results, FORM shares are down approximately 17% on greatly increased trading volume. The price decline has wiped out over $300 million in shareholder value.
During the third quarter, Igor Khandros, the Company's chief executive, sold approximately 100,000 of his own shares at prices between $43 and $46 per share, and has received bonus compensation based on corporate performance.
If you: (i) currently hold FormFactor shares and expect to continue to hold them; or (ii) purchased FormFactor shares within the last two years and have experienced a decline in their value (or have sold them) as a result of today's announcement, and are interested in discussing your rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will speak with you personally at no cost or obligation.