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In re Monster Worldwide, Inc.
Derivative Shareholder Litigation
(Supreme Court of New York, New
York County)
Shareholder derivative action filed on behalf of Louisiana
Municipal Police Employees’ Retirement System ("Louisiana") brought for the benefit of
Monster Worldwide, Inc. ("Monster"), against certain officers and directors of the Company.
This action arises from defendants’ obtaining, approving, and/or acquiescing in the issuance
of stock options to senior executives and directors that were unlawfully backdated to provide
the recipients with windfall compensation at the direct expense of Monster between at least
January 1997 and the present.
On September 15, 2006, the Court appointed
Louisiana Co-Lead Plaintiff and BLB&G Co-Lead Counsel in the action. On December 1, 2006,
Plaintiffs filed an
Amended and Consolidated Verified Shareholder Derivative Complaint
in this Action. On February 15, 2007, former Monster General Counsel and
Defendant Myron Olesnyckyj pled guilty to securities fraud charges in connection
with the backdating scandal.
Firm partner
Salvatore Graziano
and associate Adam
Wierzbowski are responsible for prosecuting this action.
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