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Johnson Bottini, LLP Announces Update on Brocade Options
Law Firm Press |
2008/03/05 12:56
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Johnson Bottini, LLP, Co-Lead Counsel in the shareholder derivative lawsuit involving the manipulation of stock options at Brocade Communications Systems, Inc., announces the following update on the case. Several motions in the case will be heard on March 28, 2008 in Santa Clara, California. Plaintiffs are seeking to amend the complaint to assert declaratory relief claims against Gregory Reyes, the ex-CEO of Brocade, and Stephanie Jensen, the former V.P. of Human Resources. Reyes, who was convicted of securities fraud by a jury in San Francisco on August 7, 2007, was sentenced on January 16, 2008 to 21 months in prison.
Jensen was convicted on December 6, 2007 of conspiracy to commit securities fraud and of falsifying Brocadespan id=bwanpa0’/spans books and records. She has not yet been sentenced. In the lawsuit, Plaintiff is seeking to recover damages for the benefit of Brocade and against Reyes, Jensen, KPMG LLP and other defendants. Plaintiff believes that the damages Brocade has suffered exceed $200 million. If you are a Brocade shareholder and would like more information about the status of the case, contact Frank A. Bottini, Esq. at 619-230-0063 or a href=mailto:frankb@johnsonbottini.com target=_blank shape=rectfont color=#000066frankb@johnsonbottini.com/font/a or go to a href=http://www.johnsonbottini.com/ target=_blank shape=rectfont color=#000066www.johnsonbottini.com/font/a. !-- end story body --!-- end story -- |
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Touro chief says law school not for sale
Legal News |
2008/03/05 12:50
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| pDiscussions about the sale of the Touro Law Center to Stony Brook University never made it past the preliminary stage, Stony Brook president Shirley Strum Kenny said yesterday./ppWe had very preliminary talks, Kenny said. We were certainly not at the point of negotiating./ppBernard Lander, founder and president of Touro College, whose main campus is in Manhattan, said yesterday he would never sell the law school. The college operates the Jacob D. Fuchsberg Law Center in Central Islip./ppI never met with anybody or spoke to anybody at the state university, Lander said in an interview. I had one meeting with Sen. [Kenneth] LaValle. Period. I never negotiated with anybody. Lander said that when Touro law school dean Lawrence Raful asked him for his opinion and that of the school's board, I said the law school charter is never for sale. Period./ppTalk of a possible sale surfaced in early February in an effort to make Stony Brook the second university after the University of Buffalo in the State University of New York system to have a law school./ppKenny confirmed she and Lander had never met to discuss the law school. There were conversations with people in the law school, she said, but they were very preliminary discussions. We never got into any negotiations./ppKenny said those discussions did serve a purpose: They revived the idea of adding a law school at Stony Brook./ppDr. Kenny and I have agreed to move forward and look at and explore the possibility of establishing our own law school at Stony Brook, said LaValle (R- Port Jefferson)./ppIt's not a new concept, Kenny said, noting that university officials first considered the addition of a law school in the 1970s and then again in the 1980s. But now people feel it's the last piece of putting together a major research university. ... It's something we will be considering very seriously./ppThough no agenda has been put in place, Kenny said a committee will be formed to study the feasibility of building a law school. I think there is a lot of interest now in the possibility of developing a law school at Stony Brook. Now, nothing has happened on that score./p |
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Supreme Court to Release Same-Day Tapes
Court News |
2008/03/05 12:29
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| pThe Supreme Court announced yesterday that it will take the special step of releasing audiotapes of oral arguments on the same day that it hears a case challenging the District's gun law. /ppEvery argument before the justices is recorded, but the tapes normally are not available until well after the court's term has ended. But beginning in 2000, with the arguments in Bush v. Gore, the court has released same-day audiotapes in high-profile cases when there is substantial media interest. /ppBecause the court is not open to cameras, the audiotapes are the only recordings of the proceedings. /ppThe case of District of Columbia v. Heller, to be heard March 18, will be the court's first consideration of the meaning of the Second Amendment in nearly 70 years. Last year, a panel of the U.S. Court of Appeals for the D.C. Circuit ruled 2 to 1 that the District's ban on private handgun possession violated the amendment. /ppThe Supreme Court is being asked to decide whether the amendment protects an individual's right to own a firearm, and if so, what restrictions government may place on that right. It is one of the most prominent cases of the court's term. More than 60 organizations and individuals have filed amicus briefs to support the city or those challenging what is acknowledged as the nation's strictest gun control law. /ppThis term, the court released same-day audiotapes in two other important cases, one involving the rights of detainees at the Guantanamo Bay military prison and the other involving the constitutionality of lethal injections. /ppThe arguments in the gun control case are scheduled for 10 a.m. March 18. Each side will receive 30 minutes to present its case, and U.S. Solicitor General Paul D. Clement has been granted 15 minutes for the federal government's views. The tapes will be released soon after the proceedings. /ppClement's brief agrees with the law's challengers that the Second Amendment protects an individual's right to bear arms, but it argues that the appeals court too broadly decided the case against the District. It recommends that the case be returned to lower courts. /p |
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US Court Denies Injunction Sought by Verigy
U.S. Court News |
2008/03/05 12:28
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| Chip testing equipment maker Verigy Ltd. said Wednesday that a U.S. district court has granted a preliminary injunction preventing Silicon Test Systems Inc. from selling its integrated circuit product for the next five months.pThe U.S. District Court for the Northern California District of California, San Jose Division, issued its ruling on Friday. The preliminary injunction prevents the defendants from selling, licensing, distributing, transferring or marketing Flash Enhancer and any product based on Flash Enhancer./ppAccording to Verigy, the court found that Flash Enhancer is substantially based upon Verigy's trade secrets./ppVerigy said defendant Romi Mayder was employed by the company until September 2006 and began developing an integrated circuit product for a new business venture while still employed by Verigy. Mayder's brother, Wesley Mayder, is also named as a defendant./ppIn a phone interview, Romi Mayder noted that the judge denied the absolute injunction that Verigy sought. Mayder said the information used to develop his product was publicly available and that his use of it amounted to a five-month head start./ppVerigy sued the defendants in August 2007 for breach of contract, trade secret misappropriation, statutory and common law unfair competition and other charges./ppThe court issued a temporary restraining order against the defendants on Aug. 24, which was still in effect when the preliminary injunction was issued./p |
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