An insider trading class action lawsuit was filed in the U.S. District Court for the Northern District of California on behalf of those who purchased or held Cisco common stock between November 10, 1999 and February 6, 2001. The class claimed Cisco made misleading statements or omitted statements that were relied on by purchasers of Cisco stock. It also alleged that the individual defendants sold Cisco stock while in possession of material, non-public information. Under the terms of the class action settlement, liability insurers for Cisco and its directors and officers will pay $91.75 million to the plaintiffs. (Aug-18-06) [SAN JOSE BUSINESS JOURNAL]
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