Sources reveal that Wilson Sonsini and its chairman, Larry Sonsini, likely will not be targeted in a backdating derivative suit scheduled to be filed Aug. 1 by a special litigation committee at Brocade. The committee has been weighing whether to sue former Brocade execs, directors and advisers to recover some of the losses sustained by the company in the backdating scandal. Sonsini served on the board and Wilson Sonsini served as outside counsel during the time that Brocade granted backdated stock options.
Wilson Sonsini Said to Sidestep Derivative Suit Over Brocade Backdating
July 25, 2008