Subsequent Events

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

18. Subsequent Events

Securities Class Action Complaints

As more fully disclosed in Note 17, “Commitments and Contingencies”, on December 10, 2015, the Company and certain of its current and former officers and directors entered into a Memorandum of Understanding with the plaintiffs’ representatives to memorialize an agreement in principle to settle the Class Action Litigation. On July 18, 2016, the court granted plaintiffs’ renewed motion for preliminary approval of the settlement. The court has scheduled the fairness hearing for November 21, 2016. The settlement remains subject to stockholder notice, court approval and other customary conditions.

Derivative Contracts

In August 2016, the Company and the counterparty, Nomura Financial Investment (Korea) Co., Ltd., entered into derivative contracts of zero cost collars for September and the fourth quarter of the year ending December 31, 2016. The total notional amount of these derivatives is $40 million. In connection with these contracts, the Company paid $2.5 million in cash deposits to the counterparty in August 2016.