SAN FRANCISCO Programmable logic supplier Lattice Semiconductor Corp. said Wednesday (Dec. 21) it has reached a comprehensive agreement to settle a consolidated shareholder derivative litigation against a number of Lattice's former and current executive officers and directors.
Lattice (Hillsboro, Ore.) said it would pay an undisclosed amount to cover agreed upon fees and expenses of the plaintiffs' attorneys. Lattice said it would also adopt certain changes to its corporate governance policies.
The settlement expressly provides that neither Lattice nor any individuals admit or concede any wrongdoing of any kind, Lattice said. The financial part of the settlement will have no material impact on the company's financial results, Lattice said.
According to Lattice, the settlement is subject to a number of conditions, including the approval of the Circuit Court of the State of Oregon.
The litigation had been pending in the Circuit Court of the State of Oregon, County of Washington.