Veeco Reaches $5.5M Settlement in Class Action

Law360, New York (August 20, 2007, 12:00 AM EDT) -- Shareholders of Veeco Instruments Inc. want a federal court to sign off on a $5.5 million class action settlement with the semiconductor maker, arguing their “sharply disputed” claims would, as it turns out, be hard to prove at trial.

In a filing to the Manhattan district court Thursday, lead counsel Berger & Montague PC said an agreement had been reached to resolve the case, which accused Veeco and its top executives of a scheme to inflate the stock price by falsely recording revenues and hiding expenses....
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.