Judge Chucks $38M Cadence Class Action Settlement

Law360, New York (August 26, 2011, 10:01 PM EDT) -- A California federal judge on Friday refused to approve a $38 million settlement in a putative securities class action accusing Cadence Design Systems Inc. of artificially inflating its value, calling the lead plaintiff's proposal “woefully inadequate.”

The suit, filed in October 2008, accuses Cadence of pumping up its value just before a stock price plunge stemming from accounting errors.

The Alaska Electrical Pension Fund had asked the court in June to approve the agreement, but U.S. District Judge Samuel Conti said the lead plaintiff had not...
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Case Information

Case Title

In re Cadence Design Systems, Inc. Securities Litigation

Case Number



California Northern

Nature of Suit



Samuel Conti

Date Filed

October 28, 2008

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