Cree shareholder suit gets a red light.

• Position: TRIANGLE - Brief Article

Durham-based Cree, which makes light-emitting diodes and semiconductors, swept away the last of a series of legal challenges from a co-founder, groups of shareholders and the U.S. Securities and Exchange Commission. Eric Hunter, brother of Chairman Neal Hunter, filed a $3.2 billion lawsuit in June 2003 alleging that the company boosted its stock through illegal accounting. That suit spawned the SEC inquiry and 19 class-action shareholder suits alleging fraud, which were combined into one case...