Stock option back dating marvell publicly traded online dating companies

19-Aug-2016 16:36

Y.) A securities class action on behalf of certain shareholders of Bank of America Corporation (“Bo A”) arising from materially misleading statements and omissions regarding Bo A’s acquisition of Merrill Lynch & Co., Inc. The Court subsequently approved settlements totaling 5,218,000 in connection with the litigation, to resolve claims against the individual officer and director defendants, underwriters of certain Lehman offerings, and against Ernst & Young LLP, Lehman’s former auditor. On August 5, 2011, Plaintiffs announced that they reached a settlement with all the defendants for a total recovery of 7 million. Marvel settled the litigation for million, a settlement among the largest reached in an options backdating securities class action. In addition, concurrent SEC civil and Department of Justice criminal actions against certain individual defendants were commenced. C.) A class action and numerous individual actions involving companies that purchased bulk vitamin products seeking to recover overcharges from an alleged international price fixing cartel. Y.) A securities class action on behalf of certain shareholders and bondholders of Lehman Brothers Holdings Inc.’s (“Lehman”) in connection with untrue statements and omitted materials facts regarding, among other things, Lehman’s use of undisclosed repurchase and resale transactions, failures to adhere to risk limits, and misstatements concerning Lehman’s concentration of mortgage and real estate-related assets, preventing investors from meaningfully assessing Lehman’s exposure to these risky assets. On March 31, 2011, the court issued an Opinion and Order substantially denying Defendants’ motions to dismiss. Eventually, Marvell conceded that it understated the effect of its compensation expense and overstated net income. Cal.) A securities class action alleging that Defendants engaged in repeated violations of federal securities laws by backdating options grants to top executives and falsifying the date of stock option grants and other information regarding options grants to numerous employees from 2000 through 2004, which, ultimately, caused Brocade to restate all of its financial statements from 2000 through 2005.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. In one prominent example, a federal appellate court overturned Reyes’ conviction on backdating-related charges last summer.Another headline-grabbing case collapsed last month, when a different judge dismissed charges against two executives of Southern California chip-maker Broadcom, while overturning a guilty plea by a third executive and excoriating prosecutors for misconduct.

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Newpark Resources (see discussion of this case here) 24. Pain Care Holdings (see discussion of this case here). Y.) A class action on behalf of certain Wachovia debt holders alleged that Wachovia sold more than billion of bonds to investors in a series of public offerings while misrepresenting the true nature and quality of Wachovia’s “Pick-A-Pay” Option ARM mortgage loan portfolio, and Wachovia’s exposure to billions of dollars of losses in mortgage-related assets. Y.) A case alleging artificial inflation of stock prices due to improper laddering and the payment of excessive commissions to secure IPO stock allocations during the 1990s’ “dot-com” boom. A 0 million class-action settlement against auto-parts manufacturer Delphi Corporation (reduced as a result of bankruptcy), including an additional million recovery against Delphi’s outside auditor. (“Marvell”) and three executive officers, involving an alleged options backdating scheme from June 2000 through June 2006, which enabled Marvell’s executives and employees to receive options with favorable option exercise prices selected with the benefit of hindsight, violating Marvell’s stock option plan while avoiding hundreds of millions of dollars in compensation expenses on Marvell’s books. Cal.) A securities class action filed against Marvell Technology Group Ltd.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.

Newpark Resources (see discussion of this case here) 24. Pain Care Holdings (see discussion of this case here).

Y.) A class action on behalf of certain Wachovia debt holders alleged that Wachovia sold more than billion of bonds to investors in a series of public offerings while misrepresenting the true nature and quality of Wachovia’s “Pick-A-Pay” Option ARM mortgage loan portfolio, and Wachovia’s exposure to billions of dollars of losses in mortgage-related assets. Y.) A case alleging artificial inflation of stock prices due to improper laddering and the payment of excessive commissions to secure IPO stock allocations during the 1990s’ “dot-com” boom. A 0 million class-action settlement against auto-parts manufacturer Delphi Corporation (reduced as a result of bankruptcy), including an additional million recovery against Delphi’s outside auditor. (“Marvell”) and three executive officers, involving an alleged options backdating scheme from June 2000 through June 2006, which enabled Marvell’s executives and employees to receive options with favorable option exercise prices selected with the benefit of hindsight, violating Marvell’s stock option plan while avoiding hundreds of millions of dollars in compensation expenses on Marvell’s books.

Cal.) A securities class action filed against Marvell Technology Group Ltd.

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.

Yarnoff, while practicing at national class-action law firms, gained significant, prior litigation experience as lead, co-lead or counsel in the following actions: A landmark .2 billion settlement including the then largest securities class-action recovery from a single corporate defendant (.975 billion) and the second largest auditor settlement (5 million).