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Most Claims Stand Against Maxim In Backdating Suit

Law360 (August 28, 2008, 12:00 AM EDT) -- Taking a stern view of stock option backdating, a federal court Wednesday backed the majority of shareholders' allegations that the top brass of Maxim Integrated Products Inc. fraudulently backdated stock options worth hundreds of millions of dollars.

Judge James Ware of the U.S. District Court for the Northern District of California tossed control person liability as a cause of action in the derivative shareholder suit and pared back some of the claims against the 30 individual defendants, but let stand the vast majority of allegations against...
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