A federal judge has dismissed most of a shareholder derivative complaint against CNET in a decision that, observers say, shows how difficult it may be for plaintiffs to succeed in numerous similar claims related to stock-option backdating. San Francisco federal Judge William Alsup found that the plaintiffs, suing on behalf of the company, hadn't proven CNET's board of directors were too personally involved in the scandal to deal with the company's backdating problems on their own.
April 16, 2007 at 12:00 AM
1 minute read
The original version of this story was published on National Law Journal
A federal judge has dismissed most of a shareholder derivative complaint against CNET in a decision that, observers say, shows how difficult it may be for plaintiffs to succeed in numerous similar claims related to stock-option backdating.
San Francisco Federal Judge William Alsup found that the plaintiffs, suing on behalf of the company, hadn’t proven CNET’s board of directors were too personally involved in the scandal to deal with the company’s backdating problems on their own.
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