In addition to its decision to layoff 10 percent more of its workforce, chip-equipment maker KLA-Tencor also decided to take away two-thirds of the discount it gives to employees buying shares of the company through its employee stock purchase plan.
Previously, employees were able to buy shares at a 15 percent discount, which has Read the rest of this entry »
A class-action lawsuit against KLA-Tencor and various of its current and former directors and officers over stock option backdating was dismissed last week, providing a full release of the company and the named defendants, but not before the company paid $65 million “for the benefit of the settlement class”: namely folks who bought KLA-Tencor stock from Read the rest of this entry »
Mark Dentinger, former chief financial officer of BEA Systems prior to its acquisition by Oracle, will start next week as the new CFO at KLA-Tencor, a supplier of chip-making equipment.
Dentinger spent nine years at BEA Systems, “during which he managed all aspects of finance, investor relations, legal, facilities, and information technology, among various other financial roles within the company,” according to a filing KLA made Friday with the SEC.
One thing BEA and KLA have in common: both were forced to restate results after internal investigations at each determined that many option awards to employees were improperly dated. Read the rest of this entry »
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