Several groups of Conexant Systems Inc. shareholders filed suit against the chipmaker, claiming it made misleading statements that inflated its stock price.
The suits were filed in New Jersey, where Conexant was based before moving back to Newport Beach last month.
The shareholders are seeking class-action status. Shareholders argue they were mislead by Conexant executives, who said the integration between struggling Conexant and GlobeSpanVirata, which it bought in 2004, was going well.
Meanwhile, Conexant said it will continue paying former chief executive Armando Geday his base salary of $550,000 as a non-executive employee until June 30. Geday resigned for “personal reasons.”
