BOULDER, Colo., Sept. 30, 2008 (GLOBE NEWSWIRE) -- Advertising Material -- The Shuman Law Firm today announced that it is investigating certain current and former officers and directors of Lam Research Corporation ("Lam" or the "Company") (Nasdaq:LRCX) for alleged stock option backdating they caused or allowed to occur at the Company.
On August 29, 2007, the Company announced that it received a notice of delisting for delayed filing of its financial statements. On March 31, 2008, the Company announced that the actual measurement dates of certain stock option grants differed from the recorded grant dates. As a result, the Company recorded adjustments to previously issued financial statements totaling $65.8 million for compensation expenses, net of taxes, for fiscal years 1997 - 2006. In addition, Lam announced that it expected to incur a cash expense of $50-$55 million as a result of the Company's decision to assume responsibility for certain tax liabilities of its employees related to the improper grants.
If you currently own Lam common stock and would like a free consultation concerning your rights and interests, please contact Kip Shuman, Esq. or Rusty Glenn, Esq. toll-free at 866-974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative litigation.
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