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This litigation began in the summer of 2006, when at least two class action complaints were filed against Juniper, Scott Kriens, Marcel Gani, William R.Hearst III, Vinod Khosla, Kenneth Levy, Stratton Sclavos, Pradeep Sindhu, William R. On November 20, 2006, the actions were consolidated as In re Juniper Networks, Inc.On July 13, 2009, Berry moved to dismiss the Amended Complaint.On September 24, 2009, the Court denied in part Berry’s motion to dismiss.Defendant Juniper and certain of its current and former senior officers and directors have been sued for federal securities law violations, in which executives allegedly backdated stock option grants to enrich corporate insiders and employees, misrepresented the Company’s stock-granting practices, and failed to record approximately 0 million in compensation expenses associated with the grant of concealed in-the-money options.
On March 31, 2008, the motion was granted in part and denied by the Court.
Lead Plaintiff alleges that Juniper, Scott Kriens, Marcel Gani and Lisa C.
Berry each violated Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934.
Securities Litigation (the “Juniper Action”), the New York City Pension Funds was appointed Lead Plaintiff, and the Lowey Firm was approved as Lead Counsel.
On January 12, 2007, Lead Plaintiff filed a Consolidated Class Action Complaint.