The owner of Roseville's semiconductor plant has settled a second lawsuit claiming it was defrauded by its former top executives.
Telefunken Semiconductors International, owner of the 600-employee Roseville plant, settled its lawsuit against ex-Chief Executive Subbarao Pinamaneni. Terms of the settlement are confidential, company attorney V. David Rivkin said Monday.
Last week, the company settled with former President Raj Johal, also on confidential terms. Both men left the company earlier this year.
The settlements mark an odd end to what had been a pair of sensational cases. Telefunken had claimed that Pinamaneni and Johal had illegally transferred $23 million in company funds to a semiconductor company they control in Germany.
Their actions badly wounded the company, forcing staff cutbacks and a postponement of a big expansion in Roseville, according to Telefunken.
Pinamaneni was unavailable for comment. He previously told The Bee he did nothing wrong.
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