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The Litigation involves derivative claims asserted on behalf of nominal defendant Cablevision Systems Corporation ( Cablevision or the Company), as well as individual claims asserted on behalf of a class of Cablevision shareholders, against certain of Cablevisions B.
While maintaining that their conduct was proper, denying any fault or wrongdoing, and without conceding any infirmity in their defenses against the claims alleged in the Litigation, the Settling Defendants and Cablevision consider it desirable that the claims against them in the Litigation be dismissed, subject to the terms and conditions herein, because the Settlement will eliminate the burden, expense, inconvenience, and distraction of continued litigation and will dispel any uncertainty that may exist as a result of the pendency of the Litigation.
A., Schiffrin & Barroway LLP (now known as Schiffrin Barroway Topaz & Kessler LLP), and Shapiro Haber & Urmy LLP as co-lead counsel for the plaintiffs in the State Action. Also in response to Cablevisions August 8, 2006 announcement, three shareholder derivative lawsuits were filed in the United States District Court for the Eastern District of New York Wandel v. Despite entering into this Settlement, the Settling Defendants continue to maintain that their conduct was proper, deny any fault or wrongdoing, and do not concede any infirmity in their defenses against the claims alleged in the Litigation.
The information in this post was last updated on September 10, 2008 The purpose of this blog post is to track options backdating related litigation.
All of the companies that have been sued — and of which the will note at the top and bottom of this post the date on which the information was most recently updated, and will indicate in red which information has been most recently added.