John S. DESIMONE, Plaintiff,
v.
Timothy A. BARROWS, Paul W. Chisholm, Gururaj Deshpande, Paul J. Ferri, John W. Gerdelman, Frances M. Jewels, Daniel E. Smith, Anita Brearton, Kurt Trampedach, Jeffry A. Kiel, Kevin J. Oye, Defendants, and
Sycamore Networks, Inc., Nominal Defendant.
Court of Chancery of Delaware, New Castle County.https://leagle.com/images/logo.png
Submitted: March 9, 2007.
Decided: June 7, 2007.
Attorney(s) appearing for the Case
Pamela S. Tikellis, Esquire, Robert J. Kriner, Jr., Esquire, A. Zachary Naylor, Esquire, Scott M. Tucker, Esquire, Chimicles & Tikellis, LLP., Wilmington, Delaware, Attorneys for Plaintiff.
Anthony W. Clark, Esquire, Robert A. Weber, Esquire, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington, Delaware, Attorneys for Nominal Defendant Sycamore Networks, Inc. and Defendants Gururaj Deshpande, Daniel E. Smith, Anita Brearton, Kurt Trampedach, Jeffry A. Kiel, and Kevin J. Oye.
James R. Carroll, Esquire, Michael S. Hines, Esquire, Skadden, Arps, Slate, Meagher & Flom, LLP, Boston, Massachusetts, Of Counsel for Nominal Defendant Sycamore Networks, Inc. and Defendants Gururaj Deshpande, Daniel E. Smith, Anita Brearton, Kurt Trampedach, Jeffry A. Kiel, and Kevin J. Oye.
John D. Donovan, Jr., Esquire, Kelly Begg Lawrence, Esquire, Ropes & Gray, LLP, Boston, Massachusetts, Attorneys for Defendants Timothy A. Barrows, Paul W. Chisholm, Paul J. Ferri and John W. Gerdelman.
William O. LaMotte, III, Esquire, Morris, Nichols, Arsht & Tunnell, LLP, Wilmington, Delaware, Attorney for Defendant Frances M. Jewels.
Michael S. Gardener, Esquire, Michael F. Connolly, Esquire, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., Boston, Massachusetts, Of Counsel for Defendant Frances M. Jewels.
Court of Chancery of Delaware, New Castle County.
OPINION
STRINE, Vice Chancellor.
I. Introduction
The nominal defendant in this derivative action, Sycamore Networks, Inc., is one of the many corporations drawing adverse attention regarding the methods by which it granted stock options to its officers, employees, and directors. Last year, the Securities and Exchange Commission and United States Department of Justice launched investigations into Sycamore's stock options practices on the...
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