Comverse Faces $72M Suit From Former CEO

Law360, New York (January 28, 2008, 12:00 AM EST) -- A little over a week after Comverse Technologies Inc. filed a fraud suit against former chairman Jacob “Kobi” Alexander, the ex-exec has fought back, filing his own $72 million fraud suit against his former employer.

In a complaint filed Friday in New York state court, Alexander claimed CTI has refused to allow him to exercise more than $43.2 million in stock options since his termination in August 2006.

“CTI has also refused to honor its contractual obligations to Alexander, including but not limited to his right...
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