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Article: Securities Litigation Against Cree Research Dismissed
- Article from:
- PR Newswire
- Article date:
- October 20, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DURHAM, N.C., Oct. 20 /PRNewswire/ -- Cree Research, Inc. (Nasdaq: CREE), the world's leading manufacturer and supplier of silicon carbide (SiC) wafers and SiC based semiconductor products, announced today that securities class action lawsuits brought against the company and certain of its directors and officers last year have been dismissed. The suits, filed in October and December 1996, had been consolidated and were pending before the U.S. District Court for the Middle District of North Carolina. In a ruling issued October 17, 1997, the court granted the defendants' motions to dismiss, finding that the company's statements were immune from liability under the safe ...
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