Cablevision: On June 4, 2008, Cablevision Systems announced (here) that it had entered a stipulation to settle the options-backdating litigation pending against the company, as nominal defendant, certain of its directors and officers, and other defendants. Although the Cablevision settlement is only the latest in a growing list of options backdating-related lawsuit resolutions
Two Options Backdating Securities Lawsuits Dismissed
In two recent federal district court decisions, two options backdating-related securities class action lawsuits – one involving Witness Systems and one involving Jabil Circuit – were dismissed.
First, in the Witness Systems case, on March 31, 2008, Judge Clarence Cooper of the United States District Court for the Northern District of Georgia granted the defendants&rsquo