Former Atmel General Counsel Tries to Derail Backdating Settlement
The Atmel GC who was fired in a travel funds scandal and later blamed for stock option backdating problems wants to blow up the company's backdating settlement. Mike Ross claims a conflict involving Morrison & Foerster, Atmel's law firm, "taints" the $9.65 million settlement that is headed for final approval in federal court. The derivative suit was filed against 25 Atmel executives, including Ross, on behalf of the company. While 24 of the defendants reached a deal last year, the ex-GC and the company haven't come to terms.
