Ex-Cadence Execs Push For $38M Settlement

Law360, New York (October 12, 2011, 1:23 PM EDT) -- A group of ex-Cadence Design Systems Inc. executives on Tuesday asked a California federal judge to approve a $38 million settlement in a putative securities class action accusing them of artificially inflating the company's value.

“The individual defendants submit this brief to underscore that the proposed derivative settlement is fair and reasonable because it resolves plaintiffs' derivative claims that, if not settled, would face substantial hurdles on the merits,” the motion said.

The suit, filed in October 2008, accuses San Jose, Calif.-based Cadence of pumping up...
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