SEATTLE, Jan. 3, 2007 (PRIME NEWSWIRE) -- Keller Rohrback L.L.P. announces that it is investigating claims against certain executive officers and board members of Finisar Corp. ("Finisar" or the "Company") (Nasdaq:FNSR) in light of recent information concerning alleged backdating of stock options at the Company.
On November 30, 2006, Finisar announced that it is conducting a voluntary review of its historical stock option grant practices from November 11, 1999 to the present. Finisar stated that the review is ongoing, however based on preliminary findings, its senior management had concluded, and the audit committee of the Board of Directors had agreed, that the results indicate likely discrepancies between measurement dates and recorded dates for certain stock option grants and that the Company would likely need to restate historical financial statements for periods yet to be determined. Keller Rohrback's investigation focuses on whether the Company's stock option grant dates and exercise prices of stock options were manipulated by Finisar's executive officers and directors in order to boost their value to those who received them.
If you are an investor who currently owns Finisar stock, and you also held the stock at some point between 1999 to the present, the period during which the alleged backdating occurred, and you wish to discuss this case, or have questions about backdating practices, please contact paralegal Rodney Shanks or attorneys Juli Farris, 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 are being investigated by the U.S. Department of Justice, the Securities and Exchange Commission, and U.S. Attorney's offices across the country, resulting in 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 ------------------------ ------------------------------------- Coherent, Inc. Nvidia Corp. Digital River, Inc. Research in Motion, Ltd. Flir Systems, Inc. THQ Inc. Getty Images, Inc. Transactions Systems Architects, Inc. Hansen Natural Corp. UTStarcom, Inc. Insight Enterprises, Inc. Valeant Pharmaceuticals International KV Pharmaceuticals Co. Novell Inc.
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.