BOULDER, Colo., Sept. 9, 2008 (LAWFUEL) — The Shuman Law Firm today announced that it is investigating certain current and former officers and directors of Autodesk, Inc. (“Autodesk” or the “Company”) Nasdaq:ADSK) for alleged stock option backdating they caused or allowed to occur at the Company.
According to a complaints filed in both the U.S. District Court for the
Northern District of California and California Superior Court, Marin
County, stock option backdating allegedly occurred at Autodesk from
fiscal 1998 through at least fiscal 2006. Stock option backdating
occurs when, using hindsight, officers and directors hand select dates
on which they grant stock options to take advantage of historically low
stock prices. This method of selecting stock option grant dates often
contravenes company policy and can have far ranging accounting
implications, including artificially inflating a stock price. Due to
this alleged backdating, defendants have caused Autodesk to expend
millions of dollars in legal fees, accounting fees and a costly
internal investigation.
If you currently own Autodesk common stock and would like a free
consultation concerning your rights and interests, please contact Kip
Shuman, Esq. or Rusty Glenn, Esq. toll-free at 866-974-8626 or email
Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at
rusty@shumanlawfirm.com.
