SEATTLE -- Digital-storage company Isilon Systems Inc. said Monday it has settled a shareholder class action lawsuit filed in 2007 related to the company's initial public offering and several restatements.

The litigation is pending in U.S. District Court for the Western District of Washington and concerns Isilon's initial public offering and previously announced restatements for the fiscal year ended Dec. 31 and the first two quarters of fiscal 2007.

The lawsuit was filed against Isilon, certain officers and directors and the underwriters of Isilon's IPO in 2006.

The parties involved will sign and submit a formal settlement in coming weeks.

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