On January 30, 2007, SFMS, on behalf of Microtune, Inc., filed a Complaint in the United States District Court for the Eastern District of Texas against current and former officers and directors of Microtune. The Complaint alleges that Defendants intentionally manipulated their stock option grant dates between 1999 and 2006 in order to enrich themselves at the expense of Microtune and Microtune shareholders. Plaintiff alleges that, inter alia, Defendants manipulated their stock options to make it appear as if stock options were granted before they actually were in order to maximize the value of the grants. By making it seem as if stock option grants occurred on dates when Microtune stock was trading at a comparatively low prices, Plaintiff asserts that Microtune executives were able to exercise their stock option grants at exercise prices that were lower than the fair market value of stock on the day the options were, in fact, granted.
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