SEATTLE, Sept. 13, 2006 (PRIMEZONE) -- Keller Rohrback L.L.P. announces that a shareholder derivative complaint has been filed in New York Supreme Court, Nassau County, on behalf of nominal defendant CableVision Systems Corp. ("CableVision" or the "Company") (NYSE:CVC) and against certain Company executive officers and board members.
On August 8, 2006, CableVision reported that as a result of an ongoing stock options review and an expected restatement of financial results, it would not release full second quarter financial information. Its review has determined that the date and exercise price assigned to a number of its stock option and stock appreciation right ("SAR") grants during the 1997-2002 period did not correspond to the actual grant date and the closing price of the Company's common stock on that day. Subsequently, on August 16, 2006, the Company announced that the Securities and Exchange Commission and a U.S. Attorney had commenced an investigation into the Company's backdating practices.
If you are an investor who currently owns CableVision stock, and you also held the stock at some point between 1997 to 2002, the period during which the alleged backdating occurred, and you wish to discuss this case, or have questions about backdating practices, please contact paralegal Jennifer Tuato'o or attorneys Elizabeth Leland, Cari Campen Laufenberg, Lynn Sarko or Gary Gotto toll free at 800/776-6044, via e-mail at investor@kellerrohrback.com, or online at www.seattleclassaction.com.
To date, more than 100 companies are being investigated by the U.S. Department of Justice, the Securities and Exchange Commission, and U.S. Attorney's offices across the country, resulting in civil and even criminal charges. Keller Rohrback L.L.P. is currently investigating the following companies for improperly manipulating the prices of options granted to executive officers and directors:
Company Company
Activision CheeseCake Factory
Amkor Technology CA, Inc.
Asyst Technology, Inc. Home Depot
Atmel KLA-Tencor
AutoDesk, Inc. THQ, Inc.
Barnes & Noble Zoran
Keller Rohrback L.L.P. is a law firm headquartered in Seattle that has successfully represented shareholders and consumers in class action cases for over two decades. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.