Judge OKs $14 Million Omnivision Settlement

SAN FRANCISCO (CN) – A federal judge has approved a $13.75 million settlement of a class-action securities lawsuit against Omnivision Technologies , which issued false and misleading statements about its finances until its share price tanked by 30% on June 10, 2004; and approved payment of 28% of the gross settlement, plus $560,490 in expenses, as attorneys’ fees. Lead counsel was Milberg Weiss, whose former directors’ legal problems are discussed in the ruling. See ruling.