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To: Boplicity who wrote (11447)	10/10/2003 11:27:26 AM
From: Selectric II	Read Replies (1) \| Respond to of 13815

CREE's internal fuss - brother on the "out" v. brother on the "in" - is dying down. Stock up. UPDATE 1-Cree says co-founder drops securities charges 09:27 a.m. 10/10/2003 Provided by (Recasts, adds stock movement) NEW YORK, Oct 10 (Reuters) - Semiconductor maker Cree Inc. (CREE) on Friday said co-founder Eric Hunter has droppedaccusations of securities fraud against the company and its chairman, pushing Cree shares up 18 percent in pre-market trade. Hunter, who stepped down as chairman about eight years ago, filed a $3.3 billion lawsuit with his wife, Jocelyn, against Cree and its chairman, Neal Hunter, his brother, in June. Hunter also dropped the accusations against the company of unfair trade practices, but opposed a motion by Cree to dismiss the other accusations in the lawsuit, the company said. The other accusations include that Neal Hunter made false statements about Eric Hunter that have hurt his professional abilities, according to the original complaint. Eric Hunter's lawyer was not immediately available for comment and Hunter himself was not immediately reachable. Cree shares rose to $22.50 in pre-market trading from a close of $19.09 on Nasdaq. Cree said in July that the U.S. Securities and Exchange Commission was looking into the securities fraud allegations made by Eric Hunter. He had made accusations of insider trading, shifting funds from affiliated companies to increase profits and filing false statements with the SEC. He also had accused Cree and Hunter family members of harassing and intimidating Eric Hunter and his wife as a result of their lawsuit. Cree said on Friday that a special committee of its board of directors had found that the allegations lacked merit. The committee was composed of independent directors, who were advsied by independent legal counsel they retained. Copyright © Reuters 2003. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.