Glass lewis backdating
Read more: Odey hedge fund backs Barrick Gold takeover of Acacia Mining A year later Tanzania arrested three Acacia employees, holding them without trial or bail.
Shareholders are due to vote on the deal on 3 September.
Whether or not these other settlements represent a trend that might be increaing plaintiffs’ lawyers interest in filing shareholder derivative suits, the derivative lawsuits brought in connection with options timing allegations appear subject to numerous defenses or other practical limitations.
To name but a few of the defenses and limitations: : For many of the companies involved in the backdating scandal, the period during which the alleged misdating took place covers a large swath of time, in some cases going back to the early or mid 90’s.
In the race to the courthouse that followed the media frenzy surrounding the options backdating scandal, many of the plaintiffs’ lawyers disregarded the derivative lawsuit filing prerequisite that the plaintiffs first demand that the board pursue the lawsuit on the corporations’ behalf or present allegations to show why demand would be futile.
The Glass Lewis Policy Guidelines also set a five-board limit.