Comverse technology backdating celebrities against dating violence

One final note about the Comverse Technology options backdating issues is that this is one case that has resulted in a successful criminal prosecution.Even though the company’s former CEO is still evading extradition in Namibia, prosecutors did secure a criminal guilty plea from the company’s former General Counsel.

has updated its analysis to reflect the Comverse settlement, here.The information publicly available about the settlement does not disclose whether or not insurance will make any contribution to the settlement.However, at least one media story about the settlement suggests that the company will make its contribution in a number of payments during 2010, which, at least to the extent of those payments, seems inconsistent with funding for the settlement from insurance.According to data compiled by Adam Savett of the Securities Litigation Watch, and taking into account this latest settlement, of the 39 options backdating related securities class action lawsuits that have been filed, 22 have now settled, along with nine that have been dismissed, meaning that there are still nine of the securities suits yet to be resolved.The 5 million settlement far exceeded the prior average options backdating securities suit settlement of about million (or .82 million if the outsized United Health Group settlement is dropped out of the equation).

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