SiliconBeat

A day after repricing underwater options held by a couple hundred of its employees, Integrated Silicon Solutions filed details Tuesday of a proposed settlement of a lawsuit against the company and some of its current and past executives and members of its board over allegations of stock option backdating.

Although the defendants in the matter — including the company’s chief executive, Jimmy Lee — deny “each and every allegation” made in the complaint, Read the rest of this entry »

Late Friday afternoon, March 6, Sanmina-SCI filed details of a preliminary settlement reached last month between a group of shareholders who had sued the company and several of its current and former executives and members of its board over the electronic manufacturer’s past stock option practices.

The deal, subject to final approval at a hearing in San Jose May 1, calls for changes in the way the company grants options along with steps to being taken by several individual defendants, including the repricing and/or forfeiture of previous options grants and outright cash payments to the company.

The company also agreed to pay Read the rest of this entry »

McAfee, the Santa Clara security software developer whose former top lawyer was acquitted earlier this month of of illegally tampering with his stock option grants to boost his pay package, filed a 15-page, 4,100-word document Friday outlining proposed steps it will take to improve its corporate governance. The plan is part of a proposed settlement of pending lawsuits filed related to the company’s historical stock option practices.

Last December, on the eve of the Christmas holiday weekend, McAfee filed restatements of past results to account for an additional Read the rest of this entry »

MessageGlobalstar, the Milpitas company that bills itself as the world’s largest provider of mobile satellite voice and data services, won a legal victory Tuesday in a consolidated class action lawsuit over allegations that it misled investors in its November 2006 initial public offering with a registration filing that “contained material misstatements and omissions”.

The action, filed in the U.S. District Court for the Southern District of New York, was “dismissed Read the rest of this entry »

Micrus Endovascular, the medical device maker whose shares took a dive last September when it lowered its guidance for its fiscal year ended March 31, seems to have convinced the judge hearing the securities class action law suit filed against it in October as a result that the action should be dismissed. On Friday, the judge did just that, according to a filing the San Jose company made Monday. Read the rest of this entry »