Tech Companies Enmeshed In Securities Suits

Law360, New York (June 14, 2007, 12:00 AM EDT) -- Qwest Communications International Inc. barely edged out Apple Inc. for involvement in the most securities litigation last year, according to our survey of the 50 largest technology companies in the U.S.

While Qwest has been under pressure from shareholders pursuing ongoing litigation after opting out of a $400 million class action settlement, many technology companies were subjected in 2006 to lawsuits stemming from U.S. Department of Justice and U.S. Securities and Exchange Commission probes into options backdating.

In total, more than 160 companies have been accused...
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