BOULDER, Colo., Sept. 9, 2008 (GLOBE NEWSWIRE) -- Advertising Material - The Shuman Law Firm today announced that it is investigating certain current and former officers and directors of Autodesk, Inc. ("Autodesk" or the "Company") (Nasdaq:ADSK) for alleged stock option backdating they caused or allowed to occur at the Company.
According to a complaints filed in both the U.S. District Court for the Northern District of California and California Superior Court, Marin County, stock option backdating allegedly occurred at Autodesk from fiscal 1998 through at least fiscal 2006. Stock option backdating occurs when, using hindsight, officers and directors hand select dates on which they grant stock options to take advantage of historically low stock prices. This method of selecting stock option grant dates often contravenes company policy and can have far ranging accounting implications, including artificially inflating a stock price. Due to this alleged backdating, defendants have caused Autodesk to expend millions of dollars in legal fees, accounting fees and a costly internal investigation.
If you currently own Autodesk common stock and would like a free consultation concerning your rights and interests, please contact Kip Shuman, Esq. or Rusty Glenn, Esq. toll-free at 866-974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative litigation.
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