DENVER, Nov. 17, 2006 (PRIMEZONE) -- The law firm of Shuman & Berens LLP (www.shumanberens.com) today encouraged persons who currently own the common stock of iBasis Inc. (Nasdaq:IBAS) to contact Kip B. Shuman of Shuman & Berens LLP at 1-800-711-6483 or via email at kip@shumanberens.com, concerning their rights and interests regarding possible stock option backdating at the company.
Shuman & Berens LLP is investigating allegations concerning potentially improper backdating of iBasis stock options granted to company employees. The company has announced that it expects to record additional non-cash charges of $10 million to $20 million because incorrect measurement dates were used with respect to certain stock option grants made to employees during one or more years. The company has also terminated Jonathan Draluck, vice president, business affairs and general counsel.
For a free consultation regarding your rights and interests with respect to your iBasis stockholdings, you may contact Kip B. Shuman of Shuman & Berens LLP at 1-800-711-6483, or via email at kip@shumanberens.com.
Shuman & Berens LLP's attorneys have extensive experience in prosecuting shareholder litigation and have played significant roles in securities actions throughout the nation. For more information about Shuman & Berens LLP go to www.shumanberens.com.