Monday, September 10, 2007

Where is the lightening?

The Rambus Inc. option backdating mess . . .

It cost millions to settle, more millions in professional fees, 1000's of hours of employee, executive and director time, more than a year of company focus, further disillusionment of shareholders and some believe undeniable evidence of the arrogance of management.

Perhaps, Rambus Inc. can now focus on its mission, creating shareholder value?

On September 7, 2007, Rambus issued a press release announcing that it had reached a settlement in principle regarding the consolidated securities class action filed in July 2006 pertaining to its accounting for option grants and related disclosures. The settlement, which is subject to final documentation as well as review by the court, provides for a payment by Rambus of $18 million and would lead to a dismissal with prejudice of all claims against all defendants in the litigation. In addition, Rambus has been and will continue to be in discussions with its insurers concerning their contribution of a portion of the settlement amount.
Photograph taken by John Juntunen.

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