Maxim Settles Class Action Lawsuit For $173 Million

Maxim Integrated Products has settled a stock option backdating class action lawsuit for $173 million. The settlement came weeks after a former CFO of Maxim lost a securities fraud trial. The cash payment that the semiconductor company has agreed to pay makes this the largest backdating settlement within the U.S. Court of Appeals for the Ninth Circuit and the third largest overall. The settlement means Maxim is “closing the door” on stock option-backdating litigation against it, according to the company. It was alleged that Maxim had improperly backdates its stock options, which inflated its stock price.

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