Ditech To Pay $1M Fees In Backdating Settlement

Law360, New York (October 15, 2009, 6:11 PM EDT) -- Ditech Networks Inc. has agreed to pay $1.05 million to the plaintiffs’ attorneys as part of the settlement of a shareholder derivative suit over stock options backdating, as well as to change the way its options are granted and reform other aspects of its corporate governance.

The plaintiffs in the three-year dispute against the voice technology company entered a motion for settlement Tuesday in the U.S. District Court for the Northern District of California, putting an end to a consolidated shareholder action that had already been...
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