8-KOther EventsExhibits & Filings

F5, INC. 8-K Report, Corporate Update (Nov 1, 2010)

Filed November 1, 2010For Securities:FFIV

Summary

This Form 8-K filing from F5 Networks, Inc. (FFIV) on November 1, 2010, primarily announces the preliminary approval of a settlement for shareholder derivative actions concerning historical stock option granting practices. The lawsuits, consolidated as "In re F5 Networks, Inc. Derivative Litigation," named the company as a nominal defendant and certain current and former officers and directors as individual defendants. Investors should note that the United States District Court for the Western District of Washington granted preliminary approval to this settlement on October 21, 2010. A final approval hearing is scheduled for January 6, 2011. The company is required to post a Notice of Settlement on its website and file the Stipulation of Settlement with the SEC as an exhibit to this report.

Key Highlights

  • 1F5 Networks, Inc. entered into a Stipulation of Settlement on September 24, 2010, to resolve shareholder derivative lawsuits.
  • 2The lawsuits, consolidated as "In re F5 Networks, Inc. Derivative Litigation," alleged claims related to the company's historical stock option granting practices.
  • 3The company is named as a nominal defendant, with certain current and former officers and directors as the individual defendants.
  • 4On October 21, 2010, the U.S. District Court for the Western District of Washington granted preliminary approval to the settlement.
  • 5A final court hearing to determine final approval of the settlement is scheduled for January 6, 2011.
  • 6The company will post a Notice of Settlement on its website within ten days of the preliminary approval order.
  • 7The Stipulation of Settlement is attached as an exhibit to this Form 8-K filing.

Frequently Asked Questions

This 8-K filing is to report the preliminary approval by the U.S. District Court of a settlement for shareholder derivative lawsuits concerning F5 Networks' historical stock option granting practices.

The lawsuits named F5 Networks, Inc. as a nominal defendant and certain current and former officers and directors of the company as the individual defendants.

A hearing to determine whether the Court will grant final approval of the settlement is scheduled for January 6, 2011.

The preliminary approval suggests progress towards resolving these legal claims. Investors will want to monitor the final approval and any associated costs or governance changes that may result from the settlement.