Veri Sign’s stock price rose 69 cents, or 2.5 percent, to .94 during market hours Tuesday, but fell 22 cents, or 0.8 percent, to .73 after the market closed.
Since the 1960's, Lowey Dannenberg Cohen & Hart, P. has successfully prosecuted violations of state or federal securities laws and common law claims for breaches of fiduciary duty or fraud.
Yet Veri Sign has struggled with the stock-option backdating scandal that has roiled much of Silicon Valley.
In November, the company said an internal investigation into option-granting practices from 2001 to 2005 revealed misdated options, and estimated the cost to the company at about 0 million.
And Sclavos also sits on the board of Intuit, which was subpoenaed by federal prosecutors over its stock-option granting practices.
Roper, the new CEO, was most recently an executive vice president and chief financial officer of government contractor Science Applications International Corp., or SAIC, based in Washington, D. During the late 1990s, he helped manage Network Solutions, then a subsidiary of SAIC.
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“Sclavos, as a founder/CEO, may have been perceived as an obstacle to a potential sale of the company, which would be a potentially attractive target,” Merrill Lynch analyst Edward Maguire wrote in a research note.