Tripath Technology, Inc. Litigation
Settlement Reached in Tripath Technology, Inc. Directors & Officers
Litigation
Pearson, Simon & Warshaw, LLP, as Special Litigation Counsel for the
trustee of the Post-Effective Date Estate of Tripath Technology, Inc.,
a high tech public company that filed for bankruptcy in 2007, obtained
for the Estate a settlement of $3.25 million from Tripath's former
officers and directors. The United States Trustee for the Northern District
of California described the result as "spectacular." The amounts
recovered for the Estate will result in a payout to the unsecured creditors
of approximately 80 cents on every dollar of allowed claims.
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