Former ESSI Exec Escapes SEC Backdating Suit

Law360, New York (February 12, 2010, 6:16 PM EST) -- A federal judge on Friday dismissed civil claims alleging stock options backdating against the son of the former chairman of defense contractor Engineered Support Systems Inc., who served as a member of the company's board.

On the 10th day of a jury trial, Judge Jean Hamilton of the U.S. District Court for the Eastern District of Missouri dismissed the claims brought against Michael F. Shanahan Jr. by the U.S. Securities and Exchange Commission.

"This is why Mike Shanahan Jr. went to trial — because he knew...
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