Marvell option backdating
In 1995 the company moved from its Westwood, Los Angeles office to Irvine, California.In 1998, Broadcom became a public company on the NASDAQ exchange (ticker symbol: BRCM) and now employs approximately 11,750 people worldwide in more than 15 countries.
Our trial skills are often vital to success in these proceedings.For decades the firm has represented both plaintiffs and defendants in many of the most high-profile securities cases in the nation.Recently, we have had great success in the barrage of litigation arising from the mortgage-backed securities debacle.Over the last four years we have recovered over $26.8 billion for our clients in these litigations.We have litigated every type of securities case, including: We have litigated these matters in federal and state courts across the country. Y.) A class action on behalf of certain Wachovia debt holders alleged that Wachovia sold more than $35 billion of bonds to investors in a series of public offerings while misrepresenting the true nature and quality of Wachovia’s “Pick-A-Pay” Option ARM mortgage loan portfolio, and Wachovia’s exposure to billions of dollars of losses in mortgage-related assets. Y.) A case alleging artificial inflation of stock prices due to improper laddering and the payment of excessive commissions to secure IPO stock allocations during the 1990s’ “dot-com” boom. A $300 million class-action settlement against auto-parts manufacturer Delphi Corporation (reduced as a result of bankruptcy), including an additional $38 million recovery against Delphi’s outside auditor. (“Marvell”) and three executive officers, involving an alleged options backdating scheme from June 2000 through June 2006, which enabled Marvell’s executives and employees to receive options with favorable option exercise prices selected with the benefit of hindsight, violating Marvell’s stock option plan while avoiding hundreds of millions of dollars in compensation expenses on Marvell’s books.
Cal.) A securities class action filed against Marvell Technology Group Ltd.
Y.) A securities class action on behalf of certain shareholders of Bank of America Corporation (“Bo A”) arising from materially misleading statements and omissions regarding Bo A’s acquisition of Merrill Lynch & Co., Inc. The Court subsequently approved settlements totaling $615,218,000 in connection with the litigation, to resolve claims against the individual officer and director defendants, underwriters of certain Lehman offerings, and against Ernst & Young LLP, Lehman’s former auditor. On August 5, 2011, Plaintiffs announced that they reached a settlement with all the defendants for a total recovery of $627 million. Marvel settled the litigation for $72 million, a settlement among the largest reached in an options backdating securities class action. In addition, concurrent SEC civil and Department of Justice criminal actions against certain individual defendants were commenced. C.) A class action and numerous individual actions involving companies that purchased bulk vitamin products seeking to recover overcharges from an alleged international price fixing cartel.
Y.) A securities class action on behalf of certain shareholders and bondholders of Lehman Brothers Holdings Inc.’s (“Lehman”) in connection with untrue statements and omitted materials facts regarding, among other things, Lehman’s use of undisclosed repurchase and resale transactions, failures to adhere to risk limits, and misstatements concerning Lehman’s concentration of mortgage and real estate-related assets, preventing investors from meaningfully assessing Lehman’s exposure to these risky assets. On March 31, 2011, the court issued an Opinion and Order substantially denying Defendants’ motions to dismiss. Eventually, Marvell conceded that it understated the effect of its compensation expense and overstated net income. Cal.) A securities class action alleging that Defendants engaged in repeated violations of federal securities laws by backdating options grants to top executives and falsifying the date of stock option grants and other information regarding options grants to numerous employees from 2000 through 2004, which, ultimately, caused Brocade to restate all of its financial statements from 2000 through 2005.
In 2013, 20, she was recognized by The Recorder as one of the "Women Leaders in Tech Law." Ms.
Doolittle has tried a wide variety of complex disputes with tens or hundreds of millions of dollars in dispute in state and federal courts across the country, including misappropriation of trade secrets, trademark, antitrust, fraud, breach of contract, breach of fiduciary duty, unfair competition and insurance coverage.
The division is headquartered in Irvine, California.