Lieff Cabraser serves as Court-Appointed Lead Counsel for Lead Plaintiff the Los Angeles County Employees Retirement Association and co-plaintiff Sacramento County Employees' Retirement System in a class action lawsuit on behalf of all persons who purchased securities of Brooks Automation between July 25, 2001 and August 1, 2006. Plaintiff charges that Brooks Automation ("Brooks" or the "Company") and its senior corporate officers and directors violated federal securities laws by participating in a scheme to backdate Company stock options over a six year period for the purpose of increasing the value of the stock options to recipients, without disclosing the corresponding compensation charge in the Company's publicly-filed financial statements.
Subsequent to Lieff Cabraser's filing of a consolidated amended complaint in this action, both the Securities and Exchange Commission and the United States Department of Justice filed complaints against the Company's former C.E.O., Robert Therrien, related to the same alleged practices. The Court preliminarily approved a $7.75 million settlement of this class action in June 2008. |
