Asyst Execs Contest Shareholders In Backdating Suit

Law360, New York (September 9, 2008, 12:00 AM EDT) -- Lawyers for officers and directors of Asyst Technologies Inc. challenged contentions in federal court Tuesday that the individual defendants should be held accountable for an alleged backdating scheme, hotly debating plaintiffs' counsel in the shareholder derivative suit over whether standing to sue had been established.

Despite vigorous arguments from both sides at a hearing in San Francisco, Judge Elizabeth D. Laporte of the U.S. District Court for the Northern District of California declined to make a ruling on the defendants' motion to throw out the complaint,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.