Shareholder and shareholder-derivative suits have accused numerous companies caught in the backdating scandal of fraud and mismanagement, but the class action filed against McAfee by seven former employees last week in Northern California federal court takes a different tack. The breach-of-contract lawsuit may be the first in a wave of similar actions against companies that are barring current and former employees from exercising stock options during ongoing stock option backdating investigations.
December 20, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A new breach-of-contract lawsuit against McAfee may be the first in a wave of similar actions against companies that are barring current and former employees from exercising stock options during ongoing stock option backdating investigations.
Shareholder and shareholder-derivative suits have accused numerous companies caught in the backdating scandal of fraud and mismanagement, but the class action filed last week in Northern California federal court takes a different tack.
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