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Hedge Fund Offered Pittance In Tripath Settlement

Law360 (September 11, 2006, 12:00 AM EDT) -- A New York hedge fund has come up short in its fight to regain more than $2 million in damages and restitution after claiming Tripath Technology Inc. inflated the price of its common stock in 2004.

Langley Partners LP stands to receive $40,000 as well as shares worth $357,750 under a stipulation-and-settlement agreement with the fabless semiconductor company, Tripath said on Monday.

Langley alleged it was duped by Tripath’s alleged false representations and omissions of information about the company’s financial health.

The suit, which targeted the...
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