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.
Plaintiff charges that Brooks Automation, its senior corporate officers and directors, violated federal securities laws by backdating company stock options over a six year period, and failed to disclose the scheme in 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.
In October 2008, the Court granted final approval to a $7.75 million settlement of the action.
