Cablevision Settles Backdating Claims For $34.4M

Law360, New York (June 5, 2008, 12:00 AM EDT) -- Cablevision Systems Corp. and the plaintiffs in consolidated litigation over alleged options backdating at the company have agreed to a $34.4 million settlement aimed at resolving all state and federal derivative claims against the defendants.

Nominal defendant Cablevision, its special litigation committee, the plaintiffs and the rest of the defendants — a group that included the company's former outside compensation consultant as well as current and former officers and directors — entered into a stipulation and agreement of settlement on June 4.

If it garners court...
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