SEATTLE, Sept. 21, 2006 (PRIMEZONE) -- Keller Rohrback L.L.P. announces that a shareholder derivative complaint has been filed in the United States District Court, Northern District of California, on behalf of nominal defendant Chordiant Software, Inc. ("Chordiant" or the "Company") (Nasdaq:CHRD) and against certain executive officers and directors of Chordiant.
On August 15, 2006, Chordiant announced that it was requesting a hearing before the NASDAQ Listing Qualifications Panel in response to the receipt of a NASDAQ staff determination letter that was issued when Chordiant's Form 10-Q for the quarter ended June 30, 2006 was delayed. As previously announced on July 24, 2006, the audit committee of the Company's board of directors is conducting an independent review of Chordiant's historical stock option grant practices and related accounting.
If you are an investor who currently owns Chordiant stock and you wish to discuss this case, or have questions about backdating practices, please contact paralegal Jennifer Tuato'o or attorneys Elizabeth Leland, Cari Campen Laufenberg, Lynn Sarko or Gary Gotto toll free at 800/776-6044, via e-mail at investor@kellerrohrback.com, or online at www.seattleclassaction.com.
To date, more than 100 companies have announced internal investigations and/or investigations by the U.S. Department of Justice, the Securities and Exchange Commission, and/or U.S. Attorney's offices across the country. Many of these investigations have resulted in earnings restatements or civil and even criminal charges. Keller Rohrback L.L.P. is currently investigating the following companies for improperly manipulating the prices of options granted to executive officers and directors:
Company Company
Affymetrix CableVision
Aspen Technology Foundry Networks, Inc.
Atmel Home Depot
Barnes & Noble Monster Worldwide
Keller Rohrback L.L.P. is a law firm headquartered in Seattle that has successfully represented shareholders and consumers in class action cases for over two decades. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.