April 08, 2013
A California federal judge said Monday he will give preliminary approval to a $3 million settlement in a shareholder derivative lawsuit accusing telecom equipment maker MRV Communications Inc. executives of illegally backdating stock options for years and deceiving investors, ruling the proposed deal appeared reasonable.
March 05, 2013
MRV Communications Inc. has agreed to pay $3 million to settle a shareholder derivative suit accusing corporate officers and directors of backdating options for years and deceiving investors, according to documents filed Friday in federal court in California.
December 22, 2011
A California federal judge on Thursday denied MRV Communications Inc.'s request to stay a consolidated suit by shareholders accusing the optical-components supplier of secretly backdating options to its directors to boost their compensation.