Xilinx Exonerated In Backdating Lawsuits

Law360, New York (January 9, 2007, 12:00 AM EST) -- The plaintiffs in two derivative shareholder lawsuits against officers and directors of semiconductor company Xilinx Inc. have agreed to drop their claims without receiving any damages.

On Monday, U.S. District Judge Ronald M. Whyte signed off on a stipulation and order in which both sides agreed to bring the case, which was filed in federal court in northern California, to a close.

Xilinx issued a statement Monday touting the dismissal as a vindication of the company’s stock option granting practices.

"We are pleased with the positive...
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