Attorneys Drop Fees in Shareholder Case Alleging Backdating

The plaintiffs lawyers in a shareholder derivative lawsuit involving allegations of stock-options backdating against Cirrus Logic have agreed, in a revised deal filed this month, to drop all attorney fees, which the judge in the case had described as "almost entirely unmerited." The revised deal, which was approved last week, comes as judges in derivative actions involving the backdating of stock options have questioned the amount of attorney fees in cases involving noncash settlements.