BACKDATED STOCK OPTIONS
 

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

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

Regarding Altera, as reported in The Wall Street Journal, "On June 21, Altera said its special committee has reached a preliminary conclusion that actual measurement dates for certain option grants issued between 1996 and 2000 differed from the recorded grant dates, and that it expects to restate its financial statements for the fiscal years ended 1996 through 2005. The San Jose, Calif., programmable-chip maker said on May 25 that the SEC and the U.S. attorney in Northern California are looking into its stock-option grants. On May 8, Altera said its board ordered an independent review of "historical stock-option practices and related accounting." The special probe followed a management review sparked by media reports that raised questions about options practices at other companies, Altera said.  On Oct. 16, the company said it completed its internal probe, found misdated options, sees restatement adjustments totalling $47.6 million pretax, and said its CFO was retiring.  On Feb. 20, 2007 the company said the SEC ended its probe of the company's stock-options practices and won't recommend any enforcement action.”

If you are a current stockholder in Altera 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, Victoria Bird.  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.