The Law Firm Of Stull, Stull & Brody Commences Investigation Relating To A Shareholder Lawsuit Against Certain Members Of The Board Of Directors, Executive Officers Of Xilinx, Inc.
The law firm of Stull, Stull & Brody announces that it has commenced an investigation relating to a shareholder lawsuit that has been filed against certain members of the board of directors and executive officers of Xilinx, Inc. (NASDAQ: XLNX) (“Xilinx” or the “Company”), in the United States District Court for the Northern District of California.
The complaint alleges that certain current and former officers and directors manipulated the prices of executive and director stock option grants (i.e., back-dated stock options). The practice of awarding stock options to executives and directors at artificially low prices is alleged to violate the Company’s internal policies (such as the Company’s stock option plan), as well as state laws governing officer and director fiduciary duties and/or federal laws governing securities and taxation. According to the allegations, the practice resulted in lower payments to the Company and under-reporting of the Company’s compensation expenses, and permitted the officers, directors and/or executives of the Company to unjustifiably reap millions of dollars in profits which should be disgorged and returned to the corporate coffers, thereby contributing to the financial health of the Company.
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