Backdating Suit V. Ex-Embarcadero Execs Lives

Law360, New York (February 19, 2009, 12:00 AM EST) -- A federal judge on Wednesday refused to dismiss a case against two former executives at software company Embarcadero Technologies Inc. accused by the U.S. Securities and Exchange Commission of concealing more than $14 million in backdated stock options.

The SEC has sufficiently alleged that the two former Embarcadero Technologies Inc. executives were engaged in a fraudulent backdating scheme and the claims are not time-barred, Judge Charles R. Breyer ruled in the U.S. District Court for the Northern District of California.

According to the SEC complaint, which...
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