SEATTLE, April 5, 2007 LAWFUEL – Legal & Class Action Newswire — Keller Rohrback L.L.P. is investigating claims against executive officers and board members of Insight Enterprises, Inc. (“Insight” or the “Company”) (Nasdaq: NSIT) in light of recent information concerning the alleged backdating of stock options at the Company.
In November 2006, Insight’s Board of Directors appointed an Options Subcommittee of independent directors to conduct a review of the Company’s historical stock option practices for the years 1995 through 2006. On April 5, 2007, Insight issued a press release stating that the Options Subcommittee had identified various categories of grants that had been made that retrospectively selected dates for anniversary, promotion, and discretionary grants based on the lowest stock price in a particular period.
In light of the conclusions reached to date, the Company has warned that it will likely need to restate its financial statements for fiscal years 2002 and 2003 and that these financial statements should no longer be relied upon. The Company currently estimates that the cumulative additional non-cash stock-based compensation expense to be recorded is likely to be in the range of $40 million to $70 million, excluding any tax consequences.
Keller Rohrback’s investigation focuses on the extent to which the Company’s stock option grant dates and exercise prices of stock options were manipulated by Insight’s executive officers and directors in order to boost their value to those who received them.
If you are an Insight shareholder and have relevant information, or if you would like additional information concerning the shareholder derivative claims presently being investigated, please contact paralegal Rodney Shanks or attorneys Juli Farris, Elizabeth Leland, Tyler Farmer, or Lynn Sarko by telephone, toll-free at 1-800-776-6044, or via e-mail at: [email protected]
To date, stock option practices at approximately 160 companies are being investigated by the SEC or U.S. Attorney’s offices across the country. Keller Rohrback L.L.P. is currently investigating the following companies for improperly manipulating the prices of options granted to executive officers and directors:
AES Corp. Inc. Valeant Pharmaceuticals Int’l.
Citrix Systems, Inc. KV Pharmaceuticals Co.
Cytyc Corporation Pediatrix Medical Group, Inc.
Digital River Inc. Radio One, Inc.
Getty Images Transaction Systems Architects, Inc.
Keller Rohrback L.L.P. is a law firm headquartered in Seattle that has successfully represented shareholders and consumers in class action cases for over two decades. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.
In a derivative lawsuit, any recovery obtained is returned to the company, for the indirect benefit of its current shareholders. You are not required to contact this or any other law firm in connection with such litigation in the event someone else files such a lawsuit. If you wish to initiate such a lawsuit to seek recovery on behalf of the company, however, you may wish to retain counsel to do so.