Ex-Trident CEO To Settle Derivative Suit For $9.4M

Law360, New York (February 11, 2011, 6:58 PM EST) -- Trident Microsystems Inc. reached a settlement of nearly $9.4 million Friday with former CEO Frank Lin, resolving a long-running backdating case against company brass.

The plaintiffs lodged a motion asking the U.S. District Court for the Northern District of California to approve the settlement with Lin, the last outstanding defendant in a nearly five-year-old lawsuit.

Lin would pay $9.38 million, nearly a quarter of the $36.9 million noncash charge taken by the company in 2006 as a result of alleged stock options backdating, the plaintiffs said....
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