SIMGE Silicon Image (MM)

Shareholder Class Action Filed Against Silicon Image, Inc. By The Law Firm of Schiffrin & Barroway, LLP BALA CYNWYD, Pa., Dec. 23 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin & Barroway, LLP: Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Northern District of California on behalf of all persons who purchased or otherwise acquired the securities of Silicon Image, Inc. (NASDAQ:SIMGE) ("Silicon Image" or the "Company") from April 15, 2002 through November 15, 2003, inclusive (the "Class Period"). If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Stuart L. Berman, Esq.) toll-free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at . The complaint charges Silicon Image, David Lee, Steve Tirado, and Robert Gargus with violations of Sections 10(b)and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. More specifically, the Complaint alleges that defendants failed to disclose and indicate: (1) that Silicon Image had materially overstated its net income and earnings per share; (2) that the Company improperly recognized revenue in the form of licensing agreements, which had been materially overstated; (3) that Silicon Image's financial results were in violation of Generally Accepted Accounting Principals ("GAAP"); and (4) that Silicon Image lacked adequate internal controls and was therefore unable to ascertain the true financial condition of the Company. On November 14, 2003, the Company announced that its Form 10-Q for the quarter ended September 30, 2003, which was due to be filed with the SEC on November 14, 2003, would not be timely filed because an ongoing examination was being conducted by its Audit Committee. The Company further stated that Silicon Image's Audit Committee, with the assistance of independent outside counsel and outside consultants, recently began examining certain matters, principally the Company's recognition of revenue associated with certain licensing transactions in 2003 and 2002. The market reacted swiftly to the news with shares of Silicon Image falling more than 27.7 percent to close at $6.40 per share on extremely heavy volume. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, which prosecutes class actions in both state and federal courts throughout the country. Schiffrin & Barroway is a driving force behind corporate governance reform, and has recovered in excess of a billion dollars on behalf of institutional and high net worth individual investors. For more information about Schiffrin & Barroway, or to sign up to participate in this action online, please visit http://www.sbclasslaw.com/. If you are a member of the class described above, you may, not later than February 13, 2004, move the Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. You may retain Schiffrin & Barroway, LLP, or other counsel of your choice, to serve as your counsel in this action. CONTACT: Schiffrin & Barroway, LLP Marc A. Topaz, Esq. Stuart L. Berman, Esq. Three Bala Plaza East, Suite 400, Bala Cynwyd, PA 19004 1-888-299-7706 (toll-free) or 1-610-667-7706 Or by e-mail at DATASOURCE: Schiffrin & Barroway, LLP CONTACT: Marc A. Topaz, Esq. or Stuart L. Berman, Esq., both of Schiffrin & Barroway, LLP, +1-888-299-7706, +1-610-667-7706 or Web site: http://www.sbclasslaw.com/

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