CMD Resolves Shareholder Suits Over Sale To ON

Law360, New York (January 20, 2010, 4:44 PM EST) -- California Micro Devices Corp. has settled three putative class actions brought by shareholders arguing they would be shortchanged by the company's proposed acquisition by ON Semiconductor Corp.

The semiconductor maker and other named defendants, including CMD executives and ON, entered into a memorandum of understanding Tuesday with counsel for the plaintiffs in the three suits, which had been filed in state courts in Delaware and California.

The parties agreed to resolve all of the claims that were brought or could have been brought on behalf of...
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