WILMINGTON, Del., and HAVERFORD, Pa., Aug. 1 LAWFUEL – Press Release Service & Litigation News — The law
firm of Chimicles & Tikellis LLP announces that it has commenced derivative shareholder lawsuits against certain current and prior officers and directors of several companies for manipulating the prices of executive and director stock option grants (a/k/a back-dated stock options).
Such practice of awarding stock options to executives and directors at
artificially low prices is alleged to violate the company’s internal
documents (such as the company’s stock option plan), as well as state laws governing officer and director fiduciary duties and/or federal laws
governing securities and taxation. In addition, the practice results in
lower payments to companies, results in those companies under-reporting
compensation expenses, and permits directors, officers and executives to
unjustifiably reap millions and billions of dollars which should be
disgorged and returned to the corporate coffers thereby contributing to the financial health of the company.
In addition to having commenced shareholder derivative lawsuits
involving UnitedHealth Group, Sycamore Networks Inc., RSA Security, Inc.
and Juniper Networks (Nasdaq: JNPR), Chimicles & Tikellis LLP is
investigating numerous companies that either received a letter of inquiry
from the Securities and Exchange Commission (“SEC”), have been contacted by U.S. Attorney’s Offices, are being investigated by the Justice Department and/or the Internal Revenue Service, have announced internal investigations and/or have otherwise been noted (in media or public reports), concerning their stock-option grant practices. These companies include:
Company Ticker Company Ticker
Activision Inc. ATVI Marvell Technology Group MRVL
Affiliated Computer Services ACS McAfee MFE
Altera ALTR Meade Instruments Group MEAD
Amkor Technology Inc. AMKR Medarex MEDX
Applied Micro Circuits AMCC Michaels Stores, Inc. MIK
Apollo Group Inc. APOL Millennium Pharmaceuticals MLNM
Asyst Technologies Inc. ASYT Monster Worldwide MNST
Barnes & Noble, Inc. BKS Newpark Resources Inc. NR
Blue Coat Systems BCSI NYFIX NYFX.PK
Boston Communications Group BCGI Openwave Systems, Inc OPWV
Broadcom BRCM Power Integrations POWI
CA, Inc. CA Progress Software PRGS
Cheesecake Factory,
Incorporated CAKE Quest Software QSFT
CNET Networks Inc. CNET Redback Networks RBAK
Computer Sciences Corp. CSC SafeNet SFNT
Corinthian Colleges Inc. COCO Sanmina-SCI Corp. SANM
Cyberonics Inc. CYBX Semtech SMTC
Delta Petroleum DPTR Sepracor SEPR
Equinix, Inc. EQIX Stolt-Nielsen SA SNSA
F5 Networks Inc FFIV Sigma Designs, Inc. SIGM
Foundry Networks Inc. FDRY Take-Two Interactive
Software, Inc. TTWO
Intuit, Inc. INTU Trident Microsystems TRID
Jabil Circuit JBL Ulticom, Inc. ULCM
KLA – Tencor KLAC Verint Systems Inc. VRNT
L-3 Communications LLL VeriSign Inc. VRSN
Linear Technology LLTC Xilinx Inc. XLNX
Macrovision Corp. MVSN Zoran ZRAN
If you currently hold shares of any of the above-referenced companies
and wish to discuss your legal rights, without obligation or cost to you,
you may e-mail or call the following attorneys: Pamela S. Tikellis, Esq. or
A. Zachary Naylor, Esq., CHIMICLES & TIKELLIS LLP, One Rodney Square,
Wilmington, DE 19899, Phone: 302-656-2500 or E-mail:
PamelaTikellis@chimicles.com or ZacharyNaylor@chimicles.com; OR, Kimberly
M. Donaldson, Esq. or Joseph G. Sauder, Esq., CHIMICLES & TIKELLIS LLP, 361 W. Lancaster Ave., Haverford, PA 19041, Phone: 610-642-8500, or E-mail:
KimDonaldson@chimicles.com or JosephSauder@chimicles.com.
Website: http://www.chimicles.com
About Chimicles & Tikellis LLP — Chimicles & Tikellis LLP specializes
in complex litigation with an emphasis on shareholder protection lawsuits,
securities, antitrust, and consumer cases, and has offices in Haverford, PA
and Wilmington, DE. C&T is a leading class action law firm with a national
practice that strives to advance the interests of its clients by recovering
money they have lost and by obtaining other appropriate relief to which
they are entitled. The firm has succeeded in recouping billions of dollars of losses for its clients.
