|
|
BLB&G Partner Jerry Silk Discusses Comverse
Options Backdating Case on CNBC’s “Morning Call”
June 8, 2007 - BLB&G Partner
Jerry Silk was featured
on CNBC’s Morning Call to discuss the firm's shareholder lawsuit against
Comverse Technology, Inc. ("Comverse or "the Company"), alleging that
certain officers and directors at the company had unlawfully backdated stock
options to provide senior executives and directors with windfall compensation at
the expense of Company. The interview with Mr. Silk came on the heels of an
extradition hearing for former Comverse founder and CEO, Kobi Alexander, in Namibia, where he fled after facing
thirty-five counts of criminal charges for backdating
millions of dollars in options. Mr. Alexander, an
Israeli citizen, is believed to have taken with him approximately $57 million of
shareholder money.
As lead counsel in the shareholder derivative
litigation representing the Louisiana Municipal Employees’ Retirement System,
Mr. Silk explains that BLB&G's focus will be to continue prosecuting the case to
trial, and states that it is "critical to get Kobi Alexander back to the United
States to be held accountable for what we perceive and what we allege to be
serious abuses of trust to the shareholders and...fraud." For more information about the
Comverse case, please click
here.
For more information about the firm, please contact us at
blbg@blbglaw.com.
|
