Marvell Technology, the Bermuda-based chip company that operates out of Santa Clara, said today that it has agreed to resolve a shareholder class action lawsuit filed in August 2007 related to the way the company granted stock options in the past.
The company will pay $72 million and has decided Read the rest of this entry »
Sirf Technology Holdings, the troubled supplier of chips and software used in global position systems that agreed in February to be acquired by CSR, a British supplier of Bluetooth connectivity tools, reached a tentative settlement last week with various parties that filed lawsuits related to the merger.
The plaintiffs had accused the company’s board of directors of Read the rest of this entry »
Avanex, the Fremont fiber optics company that announced its acceptance in January of a deal to merge with rival Bookham of San Jose, has evidently reached a settlement with two shareholders who sued the company over the proposed merger, claiming it fails to “maximize stockholder value.”
The shareholders allege that the proxy Avanex sent to shareholders about the deal Read the rest of this entry »
A Federal court has ordered that those who purchased shares of Brocade Communication between May 18, 2000 and May 15, 2005 be notified of the certification of a class settlement in a shareholder lawsuit brought against the San Jose networking firm, whose former chief executive , Greg Reyes, was found guilty in the nation’s first criminal trial related to stock-option backdating.
In May, the United States District Court for the Northern District of California in San Francisco found that Brocade was Read the rest of this entry »
Maxim Integrated Products, the Sunnyvale chip maker that hasn’t filed financial reports with the Securities and Exchange Commission since May 2006 because of an investigation into its past stock option granting practices, said Monday it reached a settlement of a shareholder lawsuit over the matter.
The legal action, brought against some of the company’s current and former executive officers and directors, included no admission of “wrongdoing or fault” on their part. Such settlements almost never do.
However, Read the rest of this entry »
Bryant Riley, who filed a shareholder lawsuit against Transmeta in January and said in May he intended to mount a proxy fight at the company’s next annual meeting to have himself and a cohort nominated to its board, will now be nominated to the board by the company itself, according to an agreement announced Tuesday.
Transmeta also agreed to increase its board size from seven to nine directors, and to immediately name to it J. Michael Gullard, who serves on the board of directors at Alliance Semiconductor along with Riley and Melvin Keating, whom Riley had originally nominated along with himself to the Transmeta board.
Riley also agreed to acquire no more than Read the rest of this entry »
Subscribe via RSS all feeds