Rambus Inc.

San Jose, CA: (Sep-07-07) A securities class action lawsuit was brought against Rambus Inc., over the company's option grant accounting and related disclosures. In a settlement reached, Los Altos-based Rambus agreed to pay $18 million to settle all litigation pertaining to the class action. Rambus officials claimed that if approved by the court, the settlement would lead to a dismissal with prejudice of all claims against all defendants in the litigation. Currently, Rambus said it was in discussions with insurers concerning their contribution of a portion of the settlement amount. In August 2007 Rambus stated that it will be late with its annual filing of financials to the Securities and Exchange Commission because it was still in the process of figuring the impact of option misdatings, and estimated it will take about a $190 million charge in pretax non-cash charges related to the grants. In April 2007 the company announced that statements for the fiscal years 2003, 2004, 2005 and for the first quarter of fiscal year 2006 should no longer be relied upon. [SAN JOSE BUSINESS JOURNAL: RAMBUS SECURITIES]

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in our form on the right.

Add Your Comment on This Issue

Please read our comment guidelines before posting.

Note: Your name will be published with your comment.

Your email will only be used if a response is needed.

Request Legal Help