Material Information (8299 Phison)
SEQ_NO  1 Date of announcement  2022/12/20 Time of announcement  11:52:28
Subject
 Taiwan High Court rendered judgment to dismiss Securities
and Futures Investors Protection Center
filed removal of director action in 2019
Date of events   2022/12/20 To which item it meets paragraph 2
Statement
 
1.Parties to the legal matter:
Plaintiff:Securities and Futures Investors Protection Center (SFIPC)
Defendants:Phison Electronics Corporation (Phison)
and its former chairman Mr. K.S.Pua (Mr. Pua)
2.Name of the court or punishing agency of the legal matter:
Taiwan High Court, Civil Division
3.Reference/Case number of relevant documents of the legal matter:
Taiwan High Court (111) Jin-Shang-Tze No. 13
4.Date of occurrence of the event:2022/12/20
5.Details of occurrence (including the matter under dispute):
SFIPC filed civil action against Phison
and its former chairman Mr. Pua in 2019,
claiming that Mr. Puas director position should be removed
in accordance with Article 10-1,
Section 1 and Item 2 of the Securities Investor
and Futures Trader Protection Act. On February 18, 2022,
Taiwan Hsinchu District Court rendered judgment to
dismiss SFIPC filed removal of director action.
SFIPC disagreed with the judgment and
appealed this case to Taiwan High Court.
On December 20, 2022, Taiwan High Court rendered judgment
still to dismiss SFIPC filed removal of director action.
6.Handling procedure:
The parties answered the complaint
in accordance with the law during court proceedings.
7.Impact on the Companys finance and business and projected amount:
Phison is operating normally.
The court judgment does not influence Phison's operation and finance.
8.Countermeasures and improvement status:None.
9.Any other matters that need to be specified:
SFIPC filed removal of director action is derivative action with regard to
Phison's financial report case occurred in 2016.
Phison's CEO Mr. Pua expresses his respect to Taiwan High Court's decision
still to dismiss SFIPC filed removal of director action.
Mr. Pua also urges SFIPC to respect the court judgment
and put an end to the dispute which has dragged on for several years.