KLA-Tencor Shareholder Case Stayed For Appeal

Law360, New York (May 29, 2009, 12:00 AM EDT) -- A federal judge has ordered a halt to derivative litigation by KLA-Tencor Corp. shareholders pending an appeals court review of his 2008 ruling that questioned the independence of the special litigation committee appointed to investigate allegations of stock options backdating at the California chip maker.

Judge James Ware of the U.S. District Court for the Northern District of California issued an order Thursday staying the case, saying it appeared the U.S. Court of Appeals for the Ninth Circuit had granted a petition by the committee defendants...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.