EPlus Derivative Suit Over Backdating Gets The Boot

Law360, New York (August 4, 2009, 6:12 PM EDT) -- A federal judge has dismissed a derivative suit brought by an investor in ePlus Inc. alleging that the technology company's top executives perpetrated and concealed a scheme to divert millions of dollars of corporate assets to themselves by manipulating stock options grants dates.

Judge Richard J. Leon of the U.S. District Court for the District of Columbia on Monday ruled that plaintiff Christopher DiLorenzo lacked standing to pursue his derivative claims and failed to adequately plead demand futility.

DiLorenzo sued eight of the telecommunication firm's executives...
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