May 1, 1999 |
An Irvine man has settled securities regulators' allegations that he and another executive at California Micro Devices Corp. falsified records and traded on inside information. Without admitting or denying the allegations, Deepak Kulkarni of Irvine agreed to repay $30,710 in allegedly ill-gotten gains, plus nearly $27,000 in interest and penalty charges. The other executive, Ashok Chalaka of Milpitas, Calif., agreed to repay $128,933, plus more than $82,000 in interest and penalties.
October 1, 1998 |
Two former executives of California Micro Devices Corp., a semiconductor component maker, were accused of illegal insider trading and financial reporting fraud, the SEC said.
August 6, 1998 |
The former chief accounting officer of California Micro Devices Corp., whose testimony led to the convictions of two higher-ups for securities fraud, has been placed on three years probation and ordered to perform 300 hours of community service for insider trading. Ronald Romito pleaded guilty to one count of insider trading in 1995 and had awaited sentencing since then as prosecutors proceeded against executives in a stock collapse that cost shareholders more than $100 million.
April 2, 1998 |
California Micro Devices Corp.'s former president, Surendra Gupta, and two other former executives have agreed to pay a total of $386,762 to settle charges they fraudulently inflated the company's sales in fiscal 1994. The Securities and Exchange Commission also charged the two former plant managers, Bhasker Rao and R. Ramana Penumarty, with illegal insider trading to avoid losses of $128,588.
March 11, 1997 |
California Micro Devices Corp. said a federal judge approved a $13-million settlement to end 10 class-action shareholder lawsuits filed against the company in 1994, when its stock price plunged. The maker of electronic components said Judge Vaughn Walker of the U.S. District Court in San Francisco agreed to the cash and stock settlement, which was amended in September to provide shareholders more cash. Walker had rejected the previous offer, saying it didn't include enough cash.
December 3, 1994 |
California Micro Devices Fires Four Top Officials: The silicon chip maker said it fired the executives in connection with an investigation of alleged accounting irregularities. Vice Chairman and former Chief Executive Chan M. Desaigoudar and President Suren Gupta were among the executives fired Thursday evening. The company's board also requested Desaigoudar's resignation as a director. Also dismissed were Ronald A. Romito, chief accounting officer, and Ashok A.