|
|
Article: Proposed Settlement Reached on Derivative Lawsuits.
- Article from:
- Business Wire
- Article date:
- September 20, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
ST. PETERSBURG, Fla. -- Jabil Circuit, Inc. (NYSE:JBL), a global electronic product solutions company, today announced that an agreement in principle had been reached to resolve all pending derivative litigations alleging that stock option grants to certain members of senior management had been backdated.
As disclosed in May 2006, Jabil has been involved in shareholder derivative and purported securities class action lawsuits and received inquiries from the government regarding certain of its historical stock option grants. As a result, the Company, through its legal counsel and assisted by accounting advisors, undertook an evaluation of certain of its historical ...