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Our attorneys have wide-ranging experience over many years in the corporate governance arena. As a result of this expertise, our lawyers have been helping clients cope with the array of legislative and regulatory responses coming out of the U.S. Congress, the U.S. Securities and Exchange Commission and major U.S. stock exchanges.

MagnaChip Reaches Settlement Agreement With Engaged Capital

Paul, Weiss client MagnaChip Semiconductor Corporation, a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, announced that it has entered into a settlement agreement with Engaged Capital, LLC. Under the terms of the agreement, two individuals who qualify as "independent directors" unaffiliated with Engaged Capital  will become board observers at MagnaChip and will subsequently be elected to its board of directors. Both individuals will serve on the board's strategic review committee.  In connection with the settlement, Engaged has agreed to customary standstill and non-disparagement covenants.

The Paul, Weiss team included corporate partners Jeffrey Marell, Ross Fieldston and David Huntington.

May 27, 2016

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