Riverstone Seeks Overhaul Of Shareholder Deal

Law360, New York (June 9, 2006, 12:00 AM EDT) -- Bankrupt ethernet provider Riverstone Networks Inc. has asked for court approval to revamp an old shareholder lawsuit settlement that would enable it to recoup nearly $1 million in fees originally paid to shareholders’ lawyers.

On Thursday, the company asked for permission to make proposed changes to its November 2004 shareholder settlement that will allow it to reclaim an estimated $950,000 of the $1.75 million previously paid in legal fees.

The settlement resolved a number of shareholder suits against the company, its officers and directors stemming from...
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