WASHINGTON AP – Computer chip supplier KLA-Tencor Corp. on Wednesday became the third company to settle federal allegations of improper backdating of stock options, after being accused by regulators of concealing more than $200 million in compensation to executives and employees.
KLA-Tencor was not fined under the settlement with the Securities and Exchange Commission, which filed a civil lawsuit against the company in federal court in San Jose, Calif. The Silicon Valley company neither admitted nor denied the SEC’s allegations but did agree to refrain from future violations of the securities laws.
