Chipmaker To Shell Out $7.25M To Settle Stock Drop Suit

Law360, New York (July 11, 2017, 6:09 PM EDT) -- A class of investors announced a proposed $7.25 million settlement with chipmaker Montage Technology Group Ltd. in California federal court Monday, putting an end to a suit that claims the company misled investors about its relationship to a distributor and inflated stock prices ahead of a stock offering.

The class, which includes those who purchased Montage stock between Sept. 25, 2013 and Feb. 6, 2014, without selling their securities by the latter date, claimed that Montage inflated its stock price leading up to a follow-on public...
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