Flood v. CLEARONE COMMUNICATIONS, INC.

MEMORANDUM DECISION AND ORDER

DEE BENSON, District Judge.

BACKGROUND

Plaintiff Frances Flood is a former Chief Executive Officer, President, and Chairperson of the board of directors of Defendant ClearOne Communications, Inc. ClearOne is a publicly traded company in the business of selling audio and video conferencing equipment.

On January 15, 2003, the United States Securities and Exchange Commission filed a civil action against ClearOne, Ms. Flood, and ClearOne’s Chief Financial Officer, Susie Strohm, alleging various improprieties and misstatements in connection with the company’s financial…