Friday, September 22, 2023
Courthouse News Service
Friday, September 22, 2023 | Back issues
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Shareholders Sue FormFactor

OAKLAND, CALIF. (CN) - Directors of FormFactor inflated share price through false and misleading information while using inside information to dump 197,447 of their own shares for $8.7 million, shareholders claim in Alameda County Court. FormFactor, which makes "wafer probe cards," testing products for the semiconductor industry, had to restate six quarters of financial results, driving share price from $47.50 to $20, and costing the company $1.3 billion, the suit states.

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