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Technology Stocks : Sycamore Networks Inc-(SCMR)

SCMR 0.226

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Nov 30 4:00 PM EST

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To: bob zagorin who wrote (2162)	7/20/2006 12:07:50 PM
From: sixty2nds	of 2249

12-Jul-06 06:29 ET In Play In Sycamore suit, memo points to backdating claims - WSJ (3.94 ) : WSJ reports the co's employees discussed how they could manipulate the dates of stock-option grants to make them more lucrative while keeping their actions hidden from the co's auditors, according to an internal memo attached to a recent lawsuit. The memo provides evidence that backdating and other altering of options was common at the co, and that employees believed the changes could get the co in trouble. Stephen Landry, a former human-resources director at the co, revealed the existence of the memo, which has been turned over to the SEC. He contends in a lawsuit, filed last month, that the co terminated his employment agreement because he told executives about the memo and complained about the co's stock-option practices. The internal memo, which was included in Mr. Landry's suit, carried a marking suggesting that it was faxed from a co office in January 2001. The suit says an employee sent it to Robin Friedman, Mr. Landry's successor in the human-resources department.

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