Int'l Rectifier To Pay $90M To Settle Shareholder Suit

Law360, New York (August 3, 2009, 3:26 PM EDT) -- Electronic component manufacturer International Rectifier Corp. has agreed to shell out $90 million to settle an investor class action alleging the company reported inflated financial results to investors over a five-year period.

The company announced the settlement of the suit, which is pending in the U.S. District Court for the Central District of California, on Friday.

The court has yet to confirm a definite settlement agreement, the company said.

Edward R. Koller sued the firm and several executives on behalf of its investors in April 2007,...
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