Short Take: Sybase slapped with shareholder suit
Sybase shareholders are suing the database software maker, alleging that its executives artificially inflated its share price by misstating $65 million in revenue, Bloomberg reported. The suit claims Sybase brass issued false and misleading earnings reports to prop up the stock while company insiders sold millions of dollars worth of shares during a ten-month period ended in February.
shareholders are suing the database software maker, alleging that its executives artificially inflated its share price by misstating $65 million in revenue, Bloomberg reported. The suit claims Sybase brass issued false and misleading earnings reports to prop up the stock while company insiders sold millions of dollars worth of shares during a ten-month period ended in February.