Shareholder Sues Oclaro Over Earnings Forecasts
The shareholder derivative complaint claims that Oclaro’s executives breached their fiduciary duties and squandered company assets by broadcasting idealistic projections for 2011 that they knew were unattainable. The forecasts allegedly inflated the value of the company stock and incurred shareholder wrath when the actual earnings were revealed.
“[T]he individual defendants had a duty to promptly...
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