"Cree Inc. said on Friday that Eric Hunter, a founder of the semiconductor maker, filed a $3 billion suit against the company and Chairman Neal Hunter, his brother, charging they broke securities laws and threatened his family." That's $3 billion . . . .
"The lawsuit spooked shareholders of the Durham, North Carolina company, and its stock fell 18.5 percent, or $4.11, to close at $18.10. It hit a session low of $15.65, its lowest level in three months," Reuters reports via Yahoo!News here.
The lawsuit alleges that Cree and two of Hunter's brothers lied to the SEC and misstated earnings. Sounds like a fun family . . . .