SIMGE Silicon Image (MM)

Cauley Geller Announces Class Action Lawsuit Against Silicon Image, Inc. on Behalf of Investors NEW YORK, Dec. 24 /PRNewswire-FirstCall/ -- The Law Firm of Cauley Geller Bowman & Rudman, LLP announced today that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of purchasers of Silicon Image, Inc. ("Silicon Image" or the "Company") publicly traded securities during the period between April 15, 2002 and November 15, 2003, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be viewed on the firm's website at http://www.cauleygeller.com/show_case.asp?ccode=211&pcode=10&pp=4 . 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. If you bought Silicon Image publicly traded securities between April 15, 2002 and November 15, 2003, inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than February 13, 2004. If you are a member of this class, you can join this class action online at http://www.cauleygeller.com/template8.asp?pcode=6&pp=1 . Any member of the purported class may move the Court to serve as lead plaintiff through Cauley Geller or other counsel of their choice, or may choose to do nothing and remain an absent class member. Cauley Geller is a national law firm that represents investors and consumers in class action and corporate governance litigation. It is one of the country's premiere firms in the area of securities fraud, with in-house finance and forensic accounting specialists and extensive trial experience. Since its founding, Cauley Geller has recovered in excess of two billion dollars on behalf of aggrieved shareholders. The firm maintains offices in Boca Raton, Little Rock and New York. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call or e-mail the Firm or visit the Firm's website at http://www.cauleygeller.com/ . Contact: CAULEY GELLER BOWMAN & RUDMAN, LLP Samuel H. Rudman, Esq. or David A. Rosenfeld, Esq. Client Relations Department: Jackie Addison, Heather Gann or Chandra West P.O. Box 25438 Little Rock, AR 72221-5438 Toll Free: 1-888-551-9944 Fax: 1-501-312-8505 E-mail: DATASOURCE: Cauley Geller Bowman & Rudman, LLP CONTACT: Samuel H. Rudman, Esq., or David A. Rosenfeld, Esq., both of Cauley Geller Bowman & Rudman, LLP, +1-631-367-7100 Web site: http://www.cauleygeller.com/ http://www.cauleygeller.com/show_case.asp?ccode=211&pcode=10&pp=4 http://www.cauleygeller.com/template8.asp?pcode=6&pp=1

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