As we mentioned a few weeks ago, ACS has the SEC and DOJ breathing down its neck, and Texas Lawyer reports that in addition to the three shareholder suits filed in state district court here, which ACS mentioned in a press release in May, there was a federal shareholder suit filed in June in the U.S. District Court for the Northern District of Texas. According to the story, that suit, Alaska Electrical Fund v. Jeffrey Rich, et al., "alleges, among other causes of action, breach of fiduciary duty, abuse of control and gross mismanagement in connection with stock option awards that allegedly were backdated." Allegedly. And Michael's has its own set of issues: The U.S. District Court for the Southern District of New York has some questions, as do shareholders in both Dallas state court and federal court. --Robert Wilonsky