One of the longest-running fights waged by the Securities and Exchange Commission over stock option backdating has settled.

Former KLA-Tencor CEO Kenneth Schroeder has agreed to pay a $275,000 fine to resolve allegations that he ignored the advice of lawyers and backdated stock options, including his own. Yet, KLA had already agreed to pay Schroeder $16.5 million to settle claims that the company improperly cancelled stock options when it terminated him.

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