KLA-Tencor CEO, SEC Settle Over Options Backdating

Law360, New York (June 21, 2010, 6:58 PM EDT) -- Former KLA-Tencor CEO Kenneth Schroeder has reached a partial settlement with the U.S. Securities and Exchange Commission over allegations of stock option backdating.

Documents filed with the U.S. District Court for the Northern District of California on Friday indicate that Schroeder has agreed to pay a civil penalty of $275,000 as part of the settlement resolving the SEC claims, to be paid within 10 business days after entry of this partial final judgment.

A federal judge must still determine, however, whether Schroeder should be barred from...
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