Anadigics Facing 2nd Shareholder Action

Law360, New York (November 24, 2008, 12:00 AM EST) -- Semiconductor maker Anadigics Inc. has been slapped with a second putative class action accusing the company of fraudulently representing its financial woes and its executives of participating in a multimillion-dollar insider trading scheme.

The lawsuit, filed last week in the U.S. District Court for the District of New Jersey, was consolidated on Monday with a separate class action, also in the District of New Jersey. Both suits accused Anadigics and three of its officers of violating the Securities and Exchange Act of 1934.

The Anadigics executives,...
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