Juniper backdating

Lead Plaintiff alleges that this practice contradicted Juniper’s representations in its financial statements and SEC filings (1) that under the Company’s stock option plans, no stock options “have been granted for less than fair market value on the date of grant”; (2) that no compensation expense was recognized for the option grants because “the exercise price of the Company’s stock options equals the market price of the underlying stock on the date of grant”; and (3) that stock options “will provide value to executive officers only when the price of the Company’s common stock increases over the exercise price.” Lead Plaintiff alleges that Juniper failed to record approximately 0 million in compensation expenses associated with backdated stock option grants.Lead Plaintiff also alleges that the backdating caused Juniper’s registration statement for common stock issued in the Net Screen Merger, and Juniper’s registration statement for its Notes, to contain false or misleading statements.

On March 31, 2008, the motion was granted in part and denied by the Court.Posted by admin on Mar 8, 2012 in Claims The lawsuit was settled for 9 million in cash on March 13, 2010.The following is a summary of the proceedings in this lawsuit: “These lawsuits are class actions alleging that Juniper, certain of its current and former officers and directors and Juniper’s auditors, Ernst & Young LLP, violated federal securities laws.The people who are suing are called the New York City Pension Funds, and are comprised of the New York City Employees’ Retirement System, the Teachers’ Retirement System of the City of New York, the New York City Fire Department Pension Fund, the New York City Police Pension Fund, the New York City Police Superior Officers’ Variable Supplements Fund, the New York City Police Officers’ Variable Supplements Fund, the New York City Firefighters’ Variable Supplements Fund, the New York City Fire Officers’ Variable Supplements Fund, and the New York City Teachers’ Retirement System of the City of New York Variable Annuity Program.The New York City Pension Funds are suing as the Lead Plaintiff on behalf of other similarly situated investors in publicly traded Juniper securities during the Class Period.

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