Xilinx Sued Over Alleged Options Backdating

Law360 (June 8, 2006, 12:00 AM EDT) -- Add semiconductor maker Xilinx Inc. to the long list of companies facing legal troubles over alleged stock-options backdating: a shareholder has filed a federal lawsuit claiming that certain company directors and officers breached their fiduciary duties by authorizing or allowing backdating and that Xilinx issued misleading proxy statements.

The complaint, filed on June 2 in the U.S. District Court for the Northern District of California, lists the company as well as nine individuals as defendants.

The suit was filed on behalf of L.A. Murphy, a Florida...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.