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Short Take: Standard settles lawsuit

Standard Microsystems settled a class action lawsuit initiated in 1995 that charged the company and some of its officers and directors with artificially inflating the stock by making false and misleading statements. The company also was charged with failure to disclose certain information, and denies all allegations. Standard recorded a net pre-tax charge of about $2 million in its second quarter ending in August.

Standard Microsystems settled a class action lawsuit initiated in 1995 that charged the company and some of its officers and directors with artificially inflating the stock by making false and misleading statements. The company also was charged with failure to disclose certain information, and denies all allegations. Standard recorded a net pre-tax charge of about $2 million in its second quarter ending in August.