KLA's $65M Backdating Deal Approved

Law360 (September 25, 2008, 12:00 AM EDT) -- Lead plaintiffs' counsel in the KLA-Tencor Corp. securities litigation are set to receive more than $10 million in attorneys' fees, with a federal judge on Friday granting final approval to a $65 million settlement that lays to rest litigation over alleged options backdating.

Judge Charles R. Breyer of the U.S. District Court for the Northern District of California finalized the settlement at a hearing in San Francisco, dismissing the case with prejudice after confirming that there had been no objections to the deal, which was initially...
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