Thursday, January 20, 2005

AMCC Settles Shareholder Class-Action Litigation

Applied Micro Circuits Corporation (AMCC) reached an agreement to settle the securities class-action litigation currently pending against the company and certain current and former officers and directors. While denying any wrongdoing, AMCC agreed to pay $60 million, of which the company expects its insurers to pay approximately $31 million.
http://www.amcc.com

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