$20 Million Settlement in Semtech Corp. Shareholder Case

September 1, 2011  |  Class Actions, Press Releases, Securities Fraud

Burton LeBlanc of Baron & Budd, P.C. and Co-Lead Counsel Carney Williams Bates Pulliam & Bowman, PLLC Achieve $20 Million Settlement in Semtech Corp. Shareholder Case

DALLAS (September 1, 2011) Burton LeBlanc, shareholder and head of the Louisiana office of Baron and Budd, P.C., along with co-lead counsel Carney Williams Bates Pulliam & Bowman, PLLC achieved a $20 million settlement with Semtech, Corp. on behalf of purchasers of Semtech’s securities between August 27, 2002 and July 19, 2006. The complaint alleged that Semtech violated federal securities laws by backdating stock option grants for certain employees, which had the effect of understating the company’s financial statements and overstatementing its income. As a result of this practice, the complaint alleged that Semtech’s stock price was inflated during the class period.

Labaton Sucrow LLP also served as counsel in the litigation.

Baron and Budd has a history of holding businesses accountable for wrongful actions. In 2005, the firm served as co-lead counsel in the 7-Eleven, Inc. shareholders litigation regarding the company’s transition from a publicly traded to a privately traded entity. The firm negotiated an offer that provided additional funds to the Company’s shareholders. Most recently, in 2010, Baron and Budd served as lead counsel in a shareholder sale of ACS to Xerox. Working alongside other national law firms, Baron and Budd helped negotiate additional compensation for the company’s public shareholders.

About Baron & Budd, P.C.

The law firm of Baron & Budd, P.C., with offices in Dallas, Baton Rouge, Austin, Los Angeles and Miami, is a nationally recognized law firm with a 30-year history of "Protecting What’s Right" for people, communities and businesses harmed by negligence. Baron & Budd’s size and resources enable the firm to take on large and complex cases. The firm represents individuals, governmental and business entities in areas as diverse as water contamination, Gulf oil spill, Qui Tam, California Proposition 65 violations, dangerous medications and medical devices, Chinese drywall, insurance claims, commercial litigation, securities fraud and asbestos-related illnesses such as mesothelioma.

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