We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Cirrus Revises Backdating Settlement Offer

Law360 (March 13, 2009, 12:00 AM EDT) -- Cirrus Logic Inc. has asked a federal judge to approve a revised settlement in a shareholder derivative suit alleging a stock options backdating scheme by the semiconductor maker's executives.

The company, which failed to win the court's blessing for its first proposed settlement, filed a motion for preliminary approval of the revamped deal in the U.S. District Court for the Western District of Texas on Friday.

Cirrus, the nominal defendant in the action, said it had renegotiated certain key terms in the initial settlement proposal with...
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.