June 14, 2011 - The court ordered the authorization of the distribution of the net settlement fund.
March 5, 2010 - The court approved the settlement and the plan of allocation and entered an order awarding attorneys’ fees and expenses, and dismissing the action with prejudice.

November 2, 2009 - The court preliminarily approved the settlement.

October 23, 2009 - Parties filed a stipulation of settlement.

December 29, 2008 - The court granted in part and denied in part the defendants' motions to dismiss.

June 16, 2008 - The defendants filed motions to dismiss.

April 18, 2008 - The lead plaintiff filed an amended complaint on behalf of investors who purchased Isilon Systems Inc (NASDAQ: ISLN) common shares between December 14, 2006 and November 8, 2007. The lead plaintiff alleges that the defendants violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing false and misleading statements between December 14, 2006 and November 8, 2007.

February 4, 2008 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.

January 2, 2008 - Additional lead plaintiff motions were filed.

December 31, 2007 - Lead plaintiff motions were filed.

November 1, 2007 - An investor in shares of Isilon Systems Inc (NASDAQ: ISLN) filed a lawsuit in the U.S. District Court for the Western District of Washington against Isilon Systems Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between December 14, 2006 and October 3, 2007.

The complaint charges Isilon Systems Inc completed its IPO of 8.9 million shares at $13.00 per share for net proceeds of approximately $105.7 million. According to the complaint, the Registration Statement failed to disclose the following: (i) Isilon Systems Inc would not be able to reach profitability by the second half of 2007; (ii) Isilon Systems Inc’s clustered storage solutions did not provide a competitively differentiated business model which would enable Isilon Systems Inc to effectively compete against the dominant players in the traditional storage market; (iii) Isilon Systems Inc’s past results were not indicative of its future operations, its ability to continue to sustain quarter over quarter revenue growth, and its ability to manage its cost structure; and (iv) despite being able to grow and significantly diversify its overall customer base, Isilon Systems Inc would remain highly dependent upon its largest customers, such as the Eastman Kodak Company.

On October 3, 2007, after the market closed, Isilon Systems Inc announced disappointing preliminary results for its third quarter 2007. On this news, Isilon Systems Inc (NASDAQ: ISLN) stock price collapsed from $7 per share on October 3, 2007 to close at $5.66 per share on October 4, 2007.