With challenges to the backdating of executive stock options proliferating, plaintiffs attorneys are jockeying for control of potentially lucrative litigation.
More than 60 companies are being investigated by the U.S. Department of Justice and/or the Securities and Exchange Commission, and executives or directors from at least six of those companies have left as a result of allegations of improper conduct. The U.S. Attorney’s Offices in the Southern and Eastern Districts of New York have both issued backdating subpoenas.
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