Feeds

NetApp faces shareholder backdating suit

Vigilante accounts scrutiny

Next gen security for virtualised datacentres

Despite thus far escaping the SEC's ire, NetApp announced Friday that its own shareholders had filed a suit against the firm over backdating of stock options.

In a statement NetApp rubbished the lawsuit's claims of improper timing of stock grants. It said: "Management believes the lawsuit to be completely frivolous and without merit."

NetApp CEO Dan Warmenhoven has been a lone public Silicon Valley voice against the SEC investigation, apparently confident that his firm would not become embroiled in the scandal after an internal probe.

NetApp reaffirmed that its accounts are clean. It said: "Management is confident that the record will support the company's determination that no backdating of stock options occurred."

The identity of the plaintiff and the amount of the claim were not disclosed. ®

Next gen security for virtualised datacentres

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.