Epiq Directors Settle Derivative Suit Over Backdating

Law360, New York (April 27, 2010, 5:25 PM EDT) -- The officers and directors of Epiq Systems Inc. have settled a shareholder derivative lawsuit accusing them of improperly backdating stock options, agreeing to pay plaintiff's counsel up to $3.5 million.

Epiq said Tuesday in a filing with the U.S. Securities and Exchange Commission that the settlement with the Alaska Electrical Pension Fund required no disgorgement, no payment of damages, no cancellation of stock options and no recovery from any of the defendants.

The deal provides for the implementation and/or maintenance of certain corporate governance measures by...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.