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2/04/2008
KLA Backdating Case Reaches $65 Million Conclusion
KLA Backdating Case Reaches $65 Million Conclusion
The final figures aren't out but KLA has reportedly signed a letter of agreement to settle class action litigation brought against the firm in relation to a $935 million loss of market cap resulting from reports of stock option backdating.
Word of the looming settlement comes from a 10-Q statement KLA recently filed with the SEC. Lawyers in the case are calling this one of the biggest awards yet in backdating-related litigation.
This won't end the problems for KLA, which is still facing several shareholder derivative suit and multiple state and Federal investigations.
-- MDT
Word of the looming settlement comes from a 10-Q statement KLA recently filed with the SEC. Lawyers in the case are calling this one of the biggest awards yet in backdating-related litigation.
This won't end the problems for KLA, which is still facing several shareholder derivative suit and multiple state and Federal investigations.
-- MDT
Labels: backdating, KLA-Tencor, settlement, stock options
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