In a settlement that was a long time in the crafting, Comverse, the large information technology company, has agreed to pay $225 million to settle a securities class action over backdated stock options. The 56-page agreement (pdf), which was filed in Brooklyn federal district court on Friday, must be approved by Judge Nicholas Garaufis.
Comverse was represented by Joseph Allerhand and David Zeltner of Weil, Gotshal & Manges.
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