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In re Comverse Technology, Inc. Derivative Shareholder Litigation
(United States District Court for the Eastern District of New York)
Shareholder derivative action filed on behalf of Louisiana Municipal Employees’
Retirement System brought for the benefit of Comverse Technology, Inc. ("Comverse"), 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 Comverse between January 1, 1994
and the present.
On September 1, 2006, Nominal Defendant Comverse moved to stay the litigation, and on
November 2, 2006, the Court denied Comverse’s motion.
On September 28, 2006, the Court appointed BLB&G Lead Counsel in the action.
On October 6, 2006, Plaintiffs filed a
Consolidated Amended Derivative
Complaint in this Action.
Firm partner
Salvatore Graziano and associates
Laura Gundersheim
and Katherine McCracken
Sinderson are responsible for prosecuting this action.
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