Derivative Suit Targets Ulticom Execs

Law360, New York (July 18, 2006, 12:00 AM EDT) -- Software maker Ulticom Inc. has become the latest tech company to get caught up in a stock options scandal, after a group of shareholders filed a derivative suit against officers and directors of the company accusing them of improperly backdating options.

The suit, filed in the U.S. District Court for the District of New Jersey, alleges that the executives backdated options, improperly accounted for the backdated options, took tax deductions based on the options in question and disseminated false information to both shareholders and the U.S....
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