EFI Announces Settlement of Stock Option Litigation - June 24, 2008

EFI Announces Settlement of Stock Option Litigation

FOSTER
CITY, Calif.–(BUSINESS WIRE)–June 24, 2008–Electronics For Imaging,
Inc. (EFI) (Nasdaq:EFII) announced today that it has reached a
settlement, subject to court approval, of the class and derivative
litigation relating to the Company’s historic stock option granting
practices. The agreement does not contain any admission of fault or
wrongdoing on the part of EFI or the individual defendants.

The settlement is subject to notice to shareholders and to the
approval by the Chancery Court of the State of Delaware. If approved,
the settlement will resolve all litigation pending against the Company,
as well as its former and current directors and officers, relating to
EFI’s historic stock option granting practices. There can be no
assurance that the Court will approve the proposed settlement.

As further described in a notice to be issued to shareholders, among
other things, the settlement provides for receipt by EFI of $5 million
in insurance proceeds and the payment by EFI of approximately $3.08
million in plaintiffs’ attorneys’ fees and costs, as well as the
adoption of certain remedial measures, including the cancellation and
repricing of certain stock options, certain payments to be made to the
company and the adoption of a number of changes to EFI’s corporate
governance and procedures.

About EFI

EFI (www.efi.com) is the world leader in customer-focused digital
printing innovation. EFI’s award-winning solutions, integrated from
creation to print, deliver increased performance, cost savings and
productivity. The company’s robust product portfolio includes Fiery(R)
digital color print servers; VUTEk(R) superwide digital inkjet
printers, UV and solvent inks; Jetrion(R) industrial inkjet printing
systems; print production workflow and management information software;
and corporate printing solutions. EFI maintains 26 offices worldwide.

CONTACT: EFI
John Ritchie, 650-357-3500
Chief Financial Officer

Tags: EFI