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Novell (Nasdaq:NOVL) continues to experience ongoing lawsuits regarding granting of stock options. This time the Board of Directors stand accused of serious wrong doing. The third major securities class action lawsuit has been filed by San Diego's Lerach Coughlin Stoia Geller Rudman & Robbins. The suit continues on to accuse the current executives, board of directors and former CEO and chief financial officer of fraudulent accounting from 1999 to 2006. Who is left at Novell that is not directly implicated in serious corporate governance failure. Look for someone to take over this wounded situation. But should they pay any premiums?

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