Securities class action lawyers are preparing for the next wave of shareholder lawsuits as more companies and their top executives face federal probes and accounting restatements linked to the backdating of their stock options.
In the past month, dozens of shareholder suits have been filed on behalf of large institutional shareholders by a number of law firms, including well-known plaintiffs firms Bernstein Litowitz Berger & Grossmann of New York and Lerach Coughlin Stoia Geller Rudman & Robbins of San Diego. The suits allege that certain companies backdated stock options granted executives to enhance the profits the executives made when they exercised the options.
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