Ex-Atmel GC Strikes Deal In Derivative Case

Law360, New York (June 8, 2010, 7:49 PM EDT) -- Atmel Corp.’s former general counsel, the only defendant to hold out from settling stock options backdating derivative litigation earlier this year, has reached a deal with the semiconductor company.

The plaintiffs who initiated the derivative case on behalf of Atmel filed a bid with the U.S. District Court for the Northern District of California on Tuesday seeking preliminary approval of a settlement with James Michael Ross, and noting that Atmel’s insurers would make payments on his behalf providing a net benefit to the company of about...
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