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Current Cases / Cnet Shareholder's Derivative

CNET Stock Fraud Allegations & Investigation

 

A shareholder's derivative suit is an action brought by a shareholder, not on its own behalf, but on behalf of the corporation, on grounds that the corporation is being cheated by corrupt actions from within. The shareholder brings an action in the name of the corporation against the corrupt officers and the outsiders with whom they’re in league. Any proceeds of the action go to the corporation.

[From Wikipedia]

CNET Stock Price

CNET has been sued in a "shareholder's derivative action" for breach of fiduciary duty and unjust enrichment.

The defendants, current and former members of CNET's Board of Directors, are accused of having improperly backdated stock option grants to make it appear as if they were made on dates when the stock price was lower than on the actual grant date, and then failing to record compensation expenses incurred as a result.

Named in the suit are: Shelby Bonnie; John C. "Bud" Colligan; Peter Currie; Jarl Mohn; Betsey Nelson; Eric Robison; Neil Ashe; Barry Briggs; Art Fatum; Richard Marino; Halsey Minor; Lon Otremba; Jonathan Rosenberg; Dan Rosensweig; Douglas Woodrum; and CNET Networks, Inc., as Nominal Defendant.

If you own any amount of CNET stock, you are urged to immediately contact the law offices of Audet & Partners at 800.965.1461 and ask to speak to attorney

 
Important Notice
Persons seeking to preserve any potential legal claims should contact an attorney promptly, since all states have mandatory time periods in which lawsuits must be filed with the courts; otherwise, they may be forever barred.
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Audet & Partners represents individuals, governmental entities, small businesses and institutional shareholders in product liability, tort, negligence, consumer, construction defect, investment fraud, securities, insider trading, antitrust, environmental, whistle blower, aviation and employment cases. In recognition of their outstanding abilities and commitment to the legal profession over the years, the firm and its members have served as Court-appointed Plaintiffs’ Counsel in dozens of federal and state cases throughout the United States.

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