SAN DIEGO, June 5, 2009 (GLOBE NEWSWIRE) -- A shareholder derivative lawsuit was filed on behalf of Costco Wholesale Corporation ("Costco" or the "Company") (NYSE:COST) on July 17, 2008 alleging that several former and current Costco executives and directors were responsible for causing Costco to misdate its stock options from as far back as 1997. The purpose of this Notice is to announce that the lawsuit was dismissed in April 2009 because the shareholder plaintiff who initiated the action no longer owned Costco shares.
The lawsuit sought to recover, for the benefit of Costco, money damages, corporate governance reforms, and various forms of equitable restitution, among other things, in an attempt to remedy the wrongs that have allegedly been committed against the Company by certain executives and directors.
If you are a Costco shareholder who wishes to discuss or become involved in a derivative action, or if you have any questions concerning this Notice, please contact attorney Brian Robbins or the Client Relations Department of Robbins Umeda LLP, toll free, at 1-800-350-6003, or via e-mail at caseinfo@robbinsumeda.com.
The law firm of Robbins Umeda LLP has extensive experience pursuing derivative actions on behalf of publicly traded companies such as Costco. For more information about Robbins Umeda LLP, please see the firm's website at http://www.robbinsumeda.com.