Semtech Reaches Preliminary $20 Million Securities Class Action Settlement

Washington, DC: A preliminary $20 million settlement has been reached in a securities fraud class action lawsuit against Semtech Corp. ("Semtech" or "Defendant"), an analog and mixed-signal semiconductor supplier, pending in the United States District Court for the Central District of California (styled In re Semtech Corporation Securities Litigation, Class Action Case No. 2:07-cv-07114-CAS), challenging Semtech's (symbol: SMTC) stock option accounting practices, according to a class action settlement news report.

If approved, the payment of $20 million by Semtech will reportedly resolve all claims against Semtech, all current officers and directors of Semtech named in the lawsuit, and certain former officers and directors of Semtech named in the lawsuit.

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Published on Dec-9-10