Semtech Class Action Settlement Of Securities Fraud Class Action Lawsuit Over Stock Option Accounting Practices.
A class action settlement has been reached in a securities fraud class action lawsuit against Semtech Corp. (“Semtech” or “Defendant”), an analog and mixed-signal semiconductor supplier, pending in the United States District Court for the Central District of California (styled In re Semtech Corporation Securities Litigation, Class Action Case No. 2:07-cv-07114-CAS), challenging Semtech’s (symbol: SMTC) stock option accounting practices, according to a class action settlement news report.
The Semtech securities class action lawsuit settlement reportedly provides for the payment of $20 million by Semtech to resolve all claims against Semtech, all current officers and directors of Semtech named in the lawsuit, and certain former officers and directors of Semtech named in the lawsuit.
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