Atmel ordered to hold special meeting of shareholders

By Lisa Kerner

Charlotte, N.C., Feb. 9 - Atmel Corp. has been ordered to hold a special meeting of its shareholders, according to an opinion issued from the Court of Chancery for the State of Delaware.

The company's board had cancelled a special meeting of stockholders called by Atmel founder George Perlegos as the then chairman of the board, and the court determined that the board's cancellation of the meeting was improper as a matter of law, according to a company news release.

The court refused a request by George Perlegos and Gust Perlegos to be reinstated as officers of Atmel, although it found the process of their termination unfair and not thorough.

"We are pleased that the Court ruled promptly and are looking forward to holding the special meeting of stockholders," George Perlegos said in the release.

"The Atmel stockholders will now have a choice regarding the management and direction of Atmel."

Atmel is an integrated circuit products manufacturer located in San Jose, Calif.

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