Comverse backdating

Pomerantz prevailed in the motion to dismiss proceedings, a particularly noteworthy victory because Chief Judge George King of the Central District of California had dismissed two prior lawsuits against Corinthian with similar allegations. Lieberman serves as Interim Class Counsel on behalf of a class lenders and financial institutions litigating claims arising out of the London Interbank Offered Rate (“LIBOR”) rate rigging scandal. Lieberman achieved a significant victory for shareholders in the United States Court of Appeals for the Second Circuit, whereby the Appeals Court ruled that a temporary rise in share price above its purchase price in the aftermath of a corrective disclosure did not eviscerate an investor’s claim for damages. In December 2013, he spoke at the Annual Provident Funds Coalition Conference in Eilat, Israel on Morrison and its implications for TASE investors.

The Second Circuit’s decision was deemed “precedential” by the New York Law Journal, and provides critical guidance for assessing damages in a § 10(b) action. Lieberman regularly consults with Pomerantz’s international institutional clients, including pension funds, regarding their rights under the U.

It’s known that when “Kobi” Alexander landed back in the United States last Wednesday after 10 years on the lam, he was detained – and instead of being released as he expected, he was kept behind bars because, the Brooklyn judge explained, he’s a flight risk. He became one of thousands of American market animals who were caught backdating stock options, which boiled down into ill-gotten gains – investors thought the executives were being rewarded for good performance.

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He is eligible for a one-third reduction for good behavior. In late June 2006, Alexander left the US for a vacation in Israel.

His lawyers had arranged with US authorities that he would return to face indictment on July 31 for securities fraud related to the backdating of options for himself and some senior employees from 1998 to 2001.

The Israeli-born Alexander turned himself in to US authorities last year after fleeing to Namibia in 2006 to avoid prosecution for backdating stock options.

He has been under arrest in New York for the past six months after his parole request was denied.

His luxury townhouse was adjacent to a private airstrip, even though a Namibian judge had restricted his travel and Alexander theoretically faced certain arrest if he left the country.

Last modified 16-Oct-2019 11:05