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.

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Email *

Submit