BACKDATED STOCK OPTIONS
 

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

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

Regarding Black Box, as reported in The Wall Street Journal, "On Nov. 17, 2006, Black Box said it received a letter of informal inquiry from the SEC, requesting documents related to the company’s stock-option practices since January 1997. The Pittsburgh-based provider of network infrastructure services and products plans to cooperate fully with the SEC in this matter.  On March 20, 2007, the company said it expects additional noncash, pretax charges for stock-based compensation expense of about $63 million, and will also need to restate previous financial statements.  On June 1, 2007, the company disclosed Friday that it received a document subpoena from the SEC related to stock-option practices.”

If you are a current stockholder in Black Box 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.