Covad Communications and its ex-general counsel have finally laid to rest a sordid, six-year saga of allegations of self-dealing directors, sexual harassment and retaliatory firing. Covad directors have agreed to pay the Silicon Valley telecom company $7 million to settle a derivative suit originally filed by former GC and co-founder Dhruv Khanna after he was fired in 2003, accusing directors of wasting money and enriching themselves at the expense of shareholders.
February 29, 2008 at 12:00 AM
1 minute read
The original version of this story was published on National Law Journal
Covad Communications and its ex-general counsel have finally laid to rest a sordid, six-year saga of allegations of self-dealing directors, sexual harassment and retaliatory firing.
Covad directors agreed to pay the company $7 million to settle a long-running derivative suit originally filed by former GC and co-founder Dhruv Khanna, the San Jose, Calif., telecom company detailed in its annual report, released Tuesday.
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