KLA-Tencor Shareholder Case Settled For $42.6M

By Evan Weinberger

Law360, New York (March 16, 2010, 5:30 PM ET) -- Shareholders and former executives of KLA-Tencor Corp. have reached a settlement totaling approximately $42.6 million that, if approved, would bring a derivative suit over options backdating to a close.

According to a motion for preliminary approval filed Monday in the U.S. District Court for the Northern District of California, the former executives will pay $33.2 million in cash to the company. They will also cancel, forfeit or reprice 550,853 KLA stock options, plus relinquish compensation and other benefits, for a total value of around $9.4 million....
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles