Rambus Settles Backdating Case For $18.3M

Law360, New York (March 12, 2008, 12:00 AM EDT) -- Memory-chip maker Rambus Inc. has put to rest a multidistrict securities class action alleging that company executives illegally backdated stock options to the tune of $18.3 million.

Judge Jeremy Fogel of the U.S. District Court for the Northern District of California on March 5 granted preliminary approval to a stipulation outlining the settlement, though the order was not docketed until March 12. A final approval hearing has been scheduled for May 14.

Judge Fogel also preliminarily certified the proposed class, which comprises purchasers of Rambus stock...
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