The former general counsel of Atmel Corp. has wrested a dismissal from a derivative suit over stock option backdating at the company. Mike Ross had threatened to blow up an earlier settlement between plaintiffs and the company in March, when he claimed that a conflict involving Atmel’s law firm Morrison & Foerster tainted the $9.65 million deal.
The derivative suit was filed against 25 Atmel executives, including Ross, on behalf of the company’s shareholders. MoFo represented 21 of the defendants as well as the company.
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