BACKDATED STOCK OPTIONS
 

Shapiro Haber & Urmy LLP Now Investigating Stock Options Backdating Practices By Affymetrix

Shapiro Haber & Urmy LLP is currently investigating stock options backdating practices at over 100 companies, including Affymetrix.

Regarding Affymetrix, as reported in The Wall Street Journal, "The maker of gene-testing devices said on Aug 1 that an internal probe has uncovered "certain documentation lapses" in its stock options grant processes from 1997 through 1999, including one instance when the option grant date should have been recorded differently. But Affymetrix said the review hasn't indicated a pattern of inappropriate options dating. On Aug. 9, the company filed with the SEC to delay the submission of its second-quarter report because of a restatement to its financial statements for some options granted between 1997 and 1999. The company said it would restate its financial statements for 2005 and first quarter of 2006.”

If you are a current stockholder in Affymetrix and would like to learn about your legal rights in seeking to remedy improper options backdating at the company, please click here or call 800-287-8119 to contact our paralegal, Tracey Godbold.  Our initial consultation and case assessment will be done at no charge or obligation to you.

Shapiro Haber & Urmy LLP is a leading force in bringing lawsuits on behalf of shareholders who own stock in corporations implicated in the rampant and ongoing stock options backdating scandal.  Led by attorneys Edward F. Haber and Michelle H. Blauner, our firm has already filed numerous cases, in both state and federal courts, concerning the improper backdating of stock options granted to officers, directors, and executives who appear to have used backdated stock options to create for themselves tens, or even hundreds, of millions of dollars in profit and unrealized gain at the direct expense of their corporations.

To learn more about our efforts targeting unlawful corporate stock options practices at corporations nationwide, please click here to view our main stock options backdating webpage, which contains detailed explanations of stock options, option backdating, and why option backdating can be illegal.  Also featured are complaints filed by our firm in other stock options backdating cases, as well as a full list of all the corporations we are currently investigating.