Quest Investors Win Class Cert. In Backdating Suit

Law360, New York (September 9, 2009, 6:41 PM EDT) -- A federal judge has granted class certification to a group of Quest Software Inc. stockholders alleging that a stock options backdating scheme led investors to purchase company stock at artificially inflated prices.

Judge David O. Carter of the U.S. District Court for the Central District of California ruled Tuesday that the proposed class, which includes all individuals and entities not affiliated with Quest who bought the company's common stock between November 2001 and July 2006, was appropriate for certification.

“[Quest] provided no argument contending that a...
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