Ex-Monster CEO's Backdating Suit To Go Forward

Law360, New York (November 16, 2007, 12:00 AM EST) -- A judge has decided to keep alive a class action lawsuit against the former chief executive officer and founder of Monster Worldwide, Inc. alleging he was involved in a scheme to illegally backdate stock options.

In an order signed Wednesday and filed Thursday, Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York ruled that the case against Andrew J. McKelvey should proceed. He said he would explain his reasoning in a memorandum to be filed later.

Monster and former...
To view the full article, register now.