Live sex chat in kuwait - Jabil circuit sec investigation backdating
In addition, Jabil is facing several shareholder lawsuits.The company said its "special review committee has concluded that there is no merit to the allegations in the state court derivative complaints that Jabil's officers issued themselves backdated stock options or attempted to cause others to issue them." Meanwhile, Jabil's lenders for a revolving credit facility have agreed to waive the requirement that the company submit quarterly and yearly financial statements to them until Feb. The company's annual shareholder meeting in January will be rescheduled until after Jabil files its 10-K. Petersburg, Fla.-based electronics manufacturing services firm shed 40 cents, or 1.4%, to .43.
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Jabil Circuit ( JBL) failed to file its annual report on time due to its ongoing stock options backdating investigation, which is still incomplete, the company said Friday.
Jabil said it missed submitting its 10-K for the fiscal year ended Aug. 29 filing date set by the Securities and Exchange Commission.
said late Thursday it has launched an internal probe of executive stock options granted over a four-year period, including a grant to Chief Executive Steve Jobs that was later cancelled.
The company said a special committee of its outside directors has hired independent counsel to perform the investigation and inform federal securities regulators of any details that are discovered.
The Court emphasized that this holding was consistent with the language and purpose of the Reform Act, reaffirming Eleventh Circuit precedent on this point and rejecting plaintiffs’ invitation to follow a Fifth Circuit decision to the contrary.
Finally, the Court affirmed the dismissal of plaintiffs’ Section 14(a) claim on the ground that plaintiffs failed to demonstrate that they suffered any damages caused by the false statements regarding stock option practices, and affirmed the dismissal of plaintiffs’ Section 20(a) claim on the ground that plaintiffs failed to plead a primary Section 10(b) claim.
By launching the probe, Apple becomes perhaps the highest-profile example of dozens of technology companies where the possible backdating of executive option grants have come under scrutiny.
Many firms have received subpoenas, either from the Securities and Exchange Commission or federal prosecutors, asking for information related to such grants.
19, 2010), the United States Court of Appeals for the Eleventh Circuit affirmed the dismissal of securities fraud and insider trading claims arising out of options backdating. Plaintiffs were a putative class of investors who purchased stock in Jabil Circuit, Inc., a publicly traded electronics and technology company, from September 19, 2001 through December 21, 2007. Fifth, plaintiffs alleged that the individual defendants were liable as controlling persons of Jabil under Section 20(a) of the 1934 Act, 15 U. As a result, the district court held that plaintiffs failed to plead both falsity and scienter (intent to commit fraud) sufficiently to satisfy the heightened pleading requirements of the Reform Act.Tags: Adult Dating, affair dating, sex dating