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Imaging Co. Execs Forfeit Options In Settlement

Law360 (September 5, 2008, 12:00 AM EDT) -- California-based imaging company Electronics for Imaging Inc. has settled a shareholder lawsuit regarding the company's option-granting practices with an agreement that reduces stock options benefits for company officers.

On Thursday, the Delaware Chancery Court approved the settlement of shareholder derivative litigation.

Company officers and directors will change the exercise price of many outstanding stock options, and some also agreed to repay the company either in cash or by surrendering outstanding options.

Company officers bound by the amended options agreement include CFO John Ritchie, Interim Chairman of...
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