ScanSource Backdating Settlement Gets Green Light

Law360, New York (April 20, 2009, 12:00 AM EDT) -- A federal judge on Monday preliminarily approved a settlement in litigation accusing bar code provider ScanSource Inc.'s principals of unlawfully granting backdated stock options to company brass.

Judge Henry F. Floyd's order, in the U.S. District Court for the District of South Carolina, scheduled a final settlement hearing for June 17 and gave shareholders until June 3 to file objections.

According to a stipulation of compromise and settlement, filed with the court April 15, the defendants in the action deny wrongdoing but acknowledge that the litigation...
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