---
schema_version: "secwatch.filing_event.v1"
accession: "0000827054-23-000058"
form_type: "8-K"
ticker: "MCHP"
cik: "0000827054"
company_name: "MICROCHIP TECHNOLOGY INC"
filed_at: "2023-04-14T23:59:59+00:00"
generated_at: "2026-06-17T02:19:20.610316+00:00"
event_type: "litigation"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Microchip settles shareholder derivative suits over Microsemi acquisition for $4M insurer payment and governance reforms

## Summary
- Arizona court preliminarily approved settlement of derivative actions alleging fiduciary breaches related to $10.15B Microsemi acquisition.
- Company receives $4 million from insurers; defendants deny wrongdoing and no admission of liability.
- Microchip implements enhanced Disclosure Committee charter and acquisition oversight reforms effective for 5 years.
- Settlement dismisses claims against current/former directors and officers with prejudice.
- Governance changes to be implemented within 60 days of final court approval; $4M net to Microchip after fees and costs.

## SEC filing metadata
- accession: 0000827054-23-000058
- form_type: 8-K
- ticker: MCHP
- cik: 0000827054
- company_name: MICROCHIP TECHNOLOGY INC
- filed_at: 2023-04-14T23:59:59+00:00
- event_type: litigation
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827054/000082705423000058/0000827054-23-000058-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827054/000082705423000058/mchp-20230414.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000827054-23-000058
- JSON: https://secwatch.observer/filing/0000827054-23-000058.json
- Plain text: https://secwatch.observer/filing/0000827054-23-000058.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.