Options Grants At Affiliated Prompt Derivative Suit

Law360, New York (May 3, 2006, 12:00 AM EDT) -- Shareholders of Affiliated Computer Services Inc. have filed a derivative suit against the company and several of its executives stemming from allegations of backdating on options granted to the company’s former CEO.

The suit, filed in a chancery court in Delaware, names all of Affiliated’s directors, with the exception of Livingston Kosberg, Dennis McCuistion and Lynn Blodgett, as defendants. The suit also names former CEO Jeff Rich.

In the complaint, shareholders allege that between 1995 and 2002, all of Rich’s stock options were dated just before...
To view the full article, register now.