AuthenTec Faces Securities Fraud Class Action

Law360, New York (October 10, 2008, 12:00 AM EDT) -- Semiconductor company AuthenTec Inc. has been hit with a proposed class action alleging that it deceived investors about its true performance over the course of four months.

Investor Brian Hoffman filed the complaint Thursday in the U.S. District Court for the Middle District of Florida on behalf of all purchasers of AuthenTec's securities from April 28 and Sept. 5.

In addition to AuthenTec, the suit named CEO and Chairman of the Board F. Scott Moody and Chief Financial Officer Gary Larsen.

On April 28, AuthenTec issued...
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