Adaptec Announces Cancelation of 2009 Annual Meeting of Stockholders Originally Scheduled for November 10, 2009
Adaptec, Inc. (NASDAQ: ADPT) today announced that its 2009 Annual
Meeting of Stockholders originally scheduled to be held on Tuesday,
November 10, 2009 at 1:00 p.m., Pacific Time (the “Annual Meeting”), has
been canceled as a result of certain developments relating to the
Consent Solicitation commenced by Steel Partners II, L.P.
About Adaptec
Adaptec provides innovative data center I/O solutions that protect,
accelerate, optimize, and condition data in today’s most demanding data
center environments. Adaptec products are used in IT environments
ranging from traditional enterprise environments to fast-growing,
on-demand cloud computing data centers. The company’s products enable
data center managers, channel partners and OEMs to deploy best-in-class
storage solutions to meet their customers’ evolving IT and business
requirements. Around the world, leading corporations, government
organizations, and medium and small businesses trust Adaptec technology.
More information is available at www.adaptec.com,
on its blog, storageadvisors.adaptec.com, and at adaptec.com/facebook
and twitter.com/Adaptec_Inc.
Cautionary Statement
This press release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. All statements, other than
statements of historical fact, are statements that could be deemed to be
forward-looking statements, including but not limited to statements
related to: Adaptec’s new products may outrun the decline of the
company’s legacy product revenues; and the company’s cash flow
projections. Adaptec cautions that a variety of factors, including but
not limited to the following, could cause results to differ materially
from those expressed or implied in the forward-looking statements:
continued or increased economic weakness and declines in customer
spending; the potential failure of anticipated long-term benefits from
new products to materialize; the potential impact of adverse changes in
the global credit markets; the impact of industry technology
transitions; fluctuating operating results; and other risks detailed
from time to time in filings Adaptec makes with the SEC, including in
the section entitled “Risk Factors” in its latest Annual Report on Form
10-K and Quarterly Report on Form 10-Q.
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