June 14, 2013 - The court ordered the final approval of the Derivative Settlement and Award of Attorneys’ Fees dismissed with prejudice and issued final judgment terminating the litigation to all claims and all parties including consolidated and related cases and ordered the case closed.
November 16, 2010 - The court approved the settlement and entered the orders approving the plan of allocation, the motion for attorneys' fees and expenses.

May 14, 2010 - The court preliminarily approved the settlement.

March 19 2010 - Parties filed stipulation of settlement.

February 16, 2010 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased MRVC common shares between March 31, 2003 and June 5, 2008. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between March 31, 2003 and June 5, 2008.

February 10, 2009 - All cases were consolidated (08-CV-04472, 08-CV-05005, 08-CV-04561). Case number 08-CV-04561 is now the operative complaint. The consolidated complaint case number 08-CV-04561 will be treated as if it was the original complaint, and filing deadlines will be determined accordingly. The court ordered cases 08-CV-04472 and 08-CV-05005 closed and no further documents are to be filed in either of these two actions.

January 30, 2009 - The lead plaintiff filed an amended complaint.

December 1, 2008 - Lead plaintiff and lead counsel were appointed.

September 8, 2008 - Lead plaintiff motions were filed.

July 11, 2008 - An investor in shares of MRV Communications Inc (NASDAQ: MRVC) filed a lawsuit in the U.S. District Court for the Central District of California against MRV Communications Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between March 31, 2003 and October 8, 2009.

According to the complaint the plaintiff charges MRV Communications Inc and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that between March 31, 2003 and October 8, 2009 defendant issued materially false and misleading statements regarding MRV Communications Inc's business and financial results.

The complaint alleges that, during the Class Period, defendants made false and misleading statements concerning MRV Communications Inc’s (NASDAQ: MRVC) employee stock option grant practices and financial results. Defendants allegedly caused or allowed MRV Communications Inc to issue statements that failed to disclose or misstated the following: (i) MRV Communications Inc had problems with its internal controls that prevented it from issuing accurate financial reports and projections; (ii) that because of improperly recorded stock-based compensation expenses MRV Communications Inc’s financial results violated GAAP; and (iii) that MRV Communications Inc’s public disclosures covering a seven-year period presented an inflated view of MRV Communications Inc’s earnings and earnings per share, which would later have to be restated. On June 5, 2008, MRV Communications Inc announced that it expects to restate its 2002 to 2008 financial statements, and that its previously-issued financial statements, earnings press releases, and similar communications should no longer be relied upon. The restatement relates to the previously undisclosed stock-option backdating problems and related accounting issues. This report came after MRV Communications Inc had earlier announced that a review of its options granting practices had found no evidence that grant dates were designed to occur on dates with lower, more favorable exercise prices. MRV Communications Inc’s management now states that it is likely that these previous conclusions were incorrect. Upon disclosure of this news, MRV Communications Inc’s share price plummeted approximately 24%.

MRV is a supplier of communications equipment and services to carriers, governments and enterprise customers worldwide.