SAN JOSE, Calif. Troubled fab-equipment automation specialist Brooks Automation Inc. Wednesday (May 31) announced that it has been notified that a shareholder derivative lawsuit was filed against Brooks in the Superior Court of the Commonwealth of Massachusetts on May 23.
The suit names Brooks (Chelmsford, Mass.) as a nominal defendant as well as certain directors and former directors as defendants.
The lawsuit alleges breaches of fiduciary duties and unjust enrichment in connection with certain prior stock option grant practices.
The company's board of directors and management said it intends to review the allegations and will address the matter and respond in a manner it considers to be in the best interests of the shareholders.
In recent weeks, Altera, AMCC, Brooks Automation, KLA-Tencor, Power Integrations, Rambus and Vitesse have separately announced a series of internal and external probes over alleged misuse of stock options.