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CNET Stock Investigation.
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CNET Stock Fraud Allegations & Investigation
Introduction[^]
A Shareholder's derivative suit is an action brought by a shareholder not on its own behalf, but on behalf of the corporation, on grounds that the corporation is being cheated by corrupt actions from within. The shareholder brings an action in the name of the corporation against the corrupt officers and the outsiders with whom they’re in league. Any proceeds of the action go to the corporation. [From Wiki] |
CNET has been sued in a "shareholder's derivative action" for breach of fiduciary duty and unjust enrichment.
The defendants, former and current members of CNET's Board of Directors, are accused of having improperly back-dated stock option grants to make it appear as if they were made on dates when the stock price was lower than on the actual grant date, and then failing to record compensation expenses incurred as a result.
Named in the suit are: Shelby Bonnie; John C. "Bud" Colligan; Peter Currie; Jarl Mohn; Betsey Nelson; Eric Robison; Neil Ashe; Barry Briggs; Art Fatum; Richard Marino; Halsey Minor; Lon Otremba; Jonathan Rosenberg; Dan Rosensweig; Douglas Woodrum; and CNET Networks Inc. as Nominal Defendant
If you own any amount of CNET stock, you are urged to immediately contact the law offices of Alexander Hawes, LLP at 800.921.1776 and ask to speak to attorney Richard Alexander. The call is free, and there is no obligation. You may also email us below. Act now, as delays can harm your case.
Links: [^]
- CNET at Google Finance
- CNET at Yahoo! Finance
- CNET at MSN Money
- CNET at MarketWatch
- CNET at CNN Money
- More tech companies probed on stock options
- CNET says SEC launches informal probe into stock option grants
- Companies responding to stock option investigations
- Suspicious stock options under federal investigation
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Alexander Hawes, LLP, an AV-rated trial firm, has concentrated its practice on the prosecution of complex Personal Injury and Class Action cases. The Firm represents individuals, governmental entities, businesses and institutional shareholders in auto accident cases, insurance claims, motorcycle injury accidents, and truck (and SUV) accidents. In addition, our law firm represents consumers in defective product, product liability, tort, negligence, mass tort, consumer, construction defect, investment fraud, price fixing and employment cases. The Firm is currently involved in complex cases pending in federal and state courts throughout the Unites States. The Firm is dedicated to quality representation of its clients and prides itself on aggressive advocacy of its clients' claims.
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