SHRP Sharper Image Corp (MM)

Sharper Image Corporation (NASDAQ:SHRP) - In response to a speculative article published today in which the reporter suggests that Sharper Image may settle a class action suit for a hypothetical and arbitrary $900 million, the Company said: �Sharper Image did not participate in this article nor does it know where the reporter got this hypothetical and arbitrary figure. Furthermore, Sharper Image does not have an expert validating or testifying to this in court. �Sharper Image has adequate funding to execute its operating and strategic plans. Sharper Image recently expanded its existing revolving credit facility and is currently finalizing its term loan. �Sharper Image participated in a fairness hearing today to review the Florida class action settlement, which the Company has outlined previously in SEC filings. The proposed settlement is the result of substantial negotiation with the plaintiffs. The Company believes this settlement is in the best interests of Sharper Image and its shareholders, and fair to its customers. �Because the matter is still pending in court, Sharper Image is unable to make any further comments.� About Sharper Image The Sharper Image is a specialty retailer that is nationally and internationally renowned as a leading source of new, innovative, high-quality products that make life better and more enjoyable. The Company's principal selling channels include 186 Sharper Image specialty stores throughout the United States; the award-winning Sharper Image monthly catalog; and its primary Web site, www.sharperimage.com. The Company also has business-to-business sales teams for marketing its exclusive and proprietary products for corporate incentive and reward programs and wholesale to selected U.S. and international retailers. Forward-Looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the Company's current plans, expectations, estimates, and projections about the specialty retail industry and management's beliefs about the Company's future performance. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" or variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties that are difficult to predict and which may cause the Company's actual results and performance to differ materially from those expressed or forecasted in any such forward-looking statements. Some of these risks and uncertainties are discussed in the Company�s Annual Report on Form 10-K for the year ended January 31, 2007 under �Risk Factors�. These risks include, among other factors,�the success of its new business strategy, its ability to continue to find or develop and to offer attractive merchandise to customers, the market potential for products in design,�the success of its advertising efforts, changes in�business and economic conditions, risks associated with its retail store, catalog and Internet operations, and changes in the competitive environment in which it operates. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements. However, readers should carefully review the statements set forth in the reports, which the Company files from time to time with the Securities and Exchange Commission, particularly its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.