Comverse Sues Ex-Execs For $70M Over Backdating

Law360, New York (January 17, 2008, 12:00 AM EST) -- Comverse Technologies Inc. filed a $70 million civil suit against its former chairman and its former general counsel, both of whom face allegations by the U.S. Securities and Exchange Commission regarding their roles in an options backdating scandal.

The Manhattan-based software company filed its complaint in New York state court, accusing ex-Chairman Jacob “Kobi” Alexander and ex-General Counsel William F. Sorin of fraud, breach of fiduciary duty and unjust enrichment for their roles in the alleged backdating scheme.

The complaint accuses the defendants of granting themselves...
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