A shareholder of Boca Raton, Fla.-based Eclipsys Corp. is suing 20 of the company’s past and current officers and directors for allegedly defrauding the company and its stockholders of millions of dollars on falsely backdated stock options to one another.

The suit, filed in U.S. District Court in West Palm Beach, alleges that “from at least 1999 until 2006, a majority of Eclipsys directors, together with top officers, engaged in a secret scheme to grant undisclosed, in-the-money stock option grants to themselves and others by backdating stock option grants to coincide with historically low closing prices of Eclipsys’s common stock.”

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]