Shareholders Fail To Nail Rambus, PwC On Backdating

Law360, New York (June 17, 2010, 6:46 PM EDT) -- A federal appeals court has affirmed the dismissal of a suit filed by a trio of shareholders alleging Rambus Inc. and PricewaterhouseCoopers LLP concealed an options backdating scheme, saying the plaintiffs failed to show the companies relied on false financial statements.

Shareholders James M. Kelley, Douglass Kelley and Miki Larsson fell short of asserting a plausible link between the allegedly false statements and corporate actions, a fatal blow to their allegation that the defendants indulged in options backdating at various points from 1997 to 2006, according...
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