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.
April 13, 1987
Robert F. Graham, president and CEO of Novellus Systems Inc., has been elected a director of California Micro Devices Corp., Milpitas.
August 11, 1999
* The Securities and Exchange Commission charged two former Coopers & Lybrand accountants with reckless conduct for their 1994 audit of California Micro Devices Corp., whose top executives later faced charges of insider trading. But Michael Perlis, the Los Angeles-based attorney representing Michael Marrie and Brian Berry, said his clients conducted the audit at the semiconductor component maker in accordance with generally accepted standards.
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.