Also, Sycamore Networks has been named in a lawsuit brought by a former employee, in which the former employee alleges that his employment contract was terminated because he complained about the company’s stock option practices. In addition, the plaintiffs allege that the M-Systems officers and directors breached their fiduciary duty to M-Systems shareholders by backdating stock options and sought to further their own interests by approving the merger. Special thanks to Adam Savett of the Lies, Damned Lies blog for bringing this lawsuit to the attention of . Zoran Corp ERISA or 401(k) Litigation (Total as of latest update = 5): 2. The lawsuits allege that the terms of the deal are not fair to M-Systems shareholders. The defendants include not only San Disk, but M-Systems and certain directors and officers of M-Systems.Readers interested in keeping up to date on the number of lawsuits will want to check back frequently. The running tallies below are meant to include a listing of any company that has been sued based on allegations of options timing manipulations, regardless whether the allegations are based on options backdating, options springloading, or hiring-related options timing. Securities Fraud Class Actions (Total as of latest update = 39): 1. Amkor Technology (see discussion of this case here) 3. Newpark Resources (see discussion of this case here) 24. Pain Care Holdings (see discussion of this case here).
") "DEMOCRACY IS ONE OF THOSE FUNNY CONCEPTS THAT MOST PEOPLE SUPPORT UNTIL THERE'S A DANGER THEY WON'T WIN." (CBS. "DIRECTORS, OF COURSE, HAVE A FIDUCIARY DUTY TO LOOK OUT FOR SHAREHOLDERS. - National Commission on the Causes of the Financial and Exonomic Crisis in the United States Issues Report Conclusding that Crisis Was Avoidable, Indentifies Culprits.The annual published list of New York Metro "Super Lawyers" represents 5% of the licensed active attorneys in New York City.The information in this post was last updated on September 10, 2008 The purpose of this blog post is to track options backdating related litigation. All of the companies that have been sued — and of which the will note at the top and bottom of this post the date on which the information was most recently updated, and will indicate in red which information has been most recently added.