BACKDATED STOCK OPTIONS
 

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

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

Regarding msystems, as reported in The Wall Street Journal, "The Israeli flash-memory company said on June 1 that it has begun on its own initiative an internal review of stock-option grants without offering any further details. Msystems subsequently canceled a secondary share offering. On July 3, the company announced its board concluded that the actual measurement dates of certain past stock-option grants differ from the previously recorded measurement dates. The company said it intends to restate its financial statements for 2001 to 2005 and take charges in the first quarter of 2006. Also, the SEC is conducting an informal inquiry into the company's grants. On July 30, Sandisk agreed to buy msystems, which recently shortened its name from M-Systems Flash Disk Pioneers, for stock valued at about $1.55 billion."

If you are a current stockholder in msystems 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, Sophie Horowitz.  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.