Cablevision Systems Corp. agrees to pay $34.4 million settlement in options back-dating lawsuit.

New York, NY: (June-5-08) Cablevision Systems Corp. has reached a settlement agreement over its stock options award practices lawsuit. The New York State Supreme Court case was over Cablevision engaging in improper stock options backdating practices in awards given to executives and directors from 1997 to 2002. As part of the settlement, worth $34.4 million, about $24.5 million being paid by Cablevision executives, directors and a consultant, while the other $10 million will be paid by it's directors and officers' insurance.

Cablevision Systems Corp. in the News

[REUTERS: Cablevision Systems Corp.]
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Published on Jun-12-08