Judge OKs $18.3M Rambus Backdating Settlement

Law360, New York (May 14, 2008, 12:00 AM EDT) -- A judge has given final approval to a $18.3 million settlement that allows memory-chip maker Rambus Inc. to end a consolidated class action alleging that Rambus executives illegally backdated stock options.

Judge Jeremy Fogel of the U.S. District Court for the Northern District of California signed off on the deal Wednesday, saying it was fundamentally fair, adequate and reasonable. He noted that the settlement is a greater recovery than many other class actions involving securities backdating.

Judge Fogel also awarded the lead plaintiffs firms, Stull Stull...
To view the full article, register now.