We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Cisco Execs Face Derivative Suit Over $5.7B Buyback

Law360 (April 21, 2011, 2:54 PM EDT) -- A Cisco Systems Inc. shareholder filed a derivative suit Wednesday in California claiming the company's top executives and board of directors breached their fiduciary duties by ordering Cisco to buy back more than $5.7 billion in company stock they knew was significantly overpriced.

The complaint says Cisco's top executives and directors touted the company's growth potential and financial growth even as they were forced to slash prices in order to keep up with stiff competition, causing a steep hit to its profits. When the truth came...
To view the full article, register now.




Case Information

Case Title

Poulos v. Cisco Systems, Inc. et al

Case Number



California Northern

Nature of Suit



Paul Singh Grewal

Date Filed

April 20, 2011


Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.