CEO In Backdating Suit Wins Dismissal Of SOX Claim

Law360, New York (December 16, 2008, 12:00 AM EST) -- Cutting down on potential damages in the case, a judge has partially granted former Engineered Support Systems Inc. CEO Michael F. Shanahan Sr.'s request for summary judgment, dismissing a Sarbanes-Oxley Act-related claim from a suit filed by the U.S. Securities and Exchange Commission over alleged options backdating.

On Friday, Judge Jean C. Hamilton issued a ruling in the U.S. District Court for the Eastern District of Missouri that effectively dismissed the SOX claim from a seven-count complaint filed against Shanahan Sr.

The dismissal of the SOX...
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