Federal Judge Limits Claims Against Epiq

By: Associated Press
By: Associated Press

KANSAS CITY, Kan. (AP) _ A federal judge in Kansas has thrown out most of the claims against Epiq Systems Inc. in a lawsuit accusing the company of manipulating when it awarded stock options to executives.

U.S. District Judge Carlos Murguia said those claims were barred because of the statute of limitations. The remaining claims can move forward.

The Alaska Electrical Pension Fund sued Kansas City, Kan.-based Epiq last year. Epiq provides technology-based services to the legal industry.

The fund claimed its analysis showed Epiq often awarded options on days when the stock was at its lowest price in the month or quarter, benefiting the executive.

While not illegal, companies who use so-called backdating must inform investors.

Epiq claims the fund's analysis is faulty.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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