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Bates & Company, Inc.
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Compass
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Comverse Technology Agrees to Settlement of Stock Options Backdating Charges
PLANSPONSOR; free registration may be required [Guidance Overview] Dec. 21, 2009
Excerpt: Comverse Technology has agreed to pay $225 million to settle a securities class action over backdated stock options. According to The American Lawyer, the settlement agreement still has to be approved in federal court. Under the agreement, Comverse will pay $165 million by selling auction rate securities back to UBS, or if that doesn't work, the company will pay with a mixture of cash and stock.
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