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....
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