Northern District of California Judge William Alsup’s displeasure with paying the attorneys and not the company in a stock option backdating settlement has been assuaged.
Lawyers in Zoran Corp.‘s derivative litigation got preliminary approval Thursday for a richer resolution that would give the company about $3.4 million in cash to settle its allegations against the company’s directors and officers. Zoran’s CEO and CFO will pay a total of $395,000, with the company’s directors and officers’ insurers coughing up $3 million.
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