In re Monster Worldwide, Inc. Derivative Shareholder Litigation
|Court:||Supreme Court of New York, New York County|
|Case Contacts:||Salvatore J. Graziano, Adam H. Wierzbowski|
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 early 2006.
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 July 28, 2008, Justice Eileen Bransten of the Supreme Court of the State of New York preliminarily approved the partial settlement of the action, which resulted in monetary recovery by Monster valued at more than $32 million (in the form of cash and stock option repricings and cancellations) and Monster's adoption of significant corporate governance reforms. Pursuant to the Court's Order, Monster published Notice of the Settlement, and on October 2, 2008, Justice Bransten approved the proposed settlement during a final settlement hearing.
Other Cases of Interest
Southern District of Iowa, Central Division John C. Browne, Adam H. Wierzbowski, James M. Fee
Facebook, Inc. (IPO)
Southern District of New York Salvatore J. Graziano, John Rizio-Hamilton, Adam H. Wierzbowski, Jai K. Chandrasekhar
Macquarie Infrastructure Corporation
Southern District of New York Salvatore J. Graziano, Lauren McMillen Ormsbee, Jesse L. Jensen, James M. Fee
Western District of Pennsylvania Salvatore J. Graziano, Adam H. Wierzbowski, Jai K. Chandrasekhar, Brenna Nelinson
Kraft Heinz Company
Northern District of Illinois Salvatore J. Graziano, Katherine M. Sinderson, Abe Alexander, Kyle Panton,
District of Connecticut Jeroen van Kwawegen, Adam H. Wierzbowski, Kate Aufses
Myriad Genetics, Inc.
District of Utah Adam H. Wierzbowski, Abe Alexander, Matthew Traylor
District of New Jersey Salvatore J. Graziano, Katherine M. Sinderson, Adam Hollander, James M. Fee
Southern District of New York Salvatore J. Graziano, James M. Fee
District of Massachusetts Gerald H. Silk, Adam H. Wierzbowski