Fossil Shareholders Drop Defendants In Backdating Suit

Law360, New York (October 14, 2009, 7:07 PM EDT) -- A shareholder derivative lawsuit that accuses Fossil Inc.'s top executives of stock options backdating has been amended to include fewer individual defendants and more specifics about the ones who remain.

The suit was first brought in 2006, but not much happened as it cycled through a series of judges. Finally, this summer, Judge Royal Furgeson of the U.S. District Court for the Northern District of Texas ruled on the defendants' motion to dismiss, saying the plaintiffs should be careful not to name parties who do not...
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