Stock options backdating cases

Stock options backdating cases
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Options backdating - WikiMili, The Free Encyclopedia

5/29/2010 · U.S. prosecutors will not appeal a judge's dismissal of stock options backdating-related charges against computer chipmaker Broadcom Corp co-founders Henry Nicholas and Henry Samueli.

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Stock options backdating cases - wudekasuti.web.fc2.com

During the past five years, the Securities and Exchange Commission (SEC) has investigated over 140 companies for their practices of backdating the grant dates of employee stock options (ESOs), and

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SEC Civil Enforcement Proceedings In-house Counsel and

SEC Charges Former President, COO, and CFO of Safe-Net, Inc. for Improper Stock Options Backdating (SEC v. Carole D. Argo, Litigation Release No. 20221, August 1, 2007) Complaint; SEC Files Action Against Integrated Silicon Solution and Its Former CFO For Improper Stock Options

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Two Delaware Chancery Court Cases on Backdating and Spring

volvement in the stock-options process. Options backdating cases have shown that in-house counsel often oversee the stock option process, prepare minutes of key board or committee meetings, and, of course, review the public fil-ings.3 That leads to trouble when the options-backdating problem hits. Of the approximately 13 in-house counsel

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Spotlight on Stock Options Backdating - SEC.gov

This is a way of repricing options to make them valuable or more valuable when the option " strike price " the fixed price cases which the owner of the option can purchase stock is fixed to the stock price options the date the option was granted. Cases of backdating …

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stock options backdating | ClassActionBlawg.com

Numerous financial analysts replicated and expanded upon the prior academic research, developing lists of companies whose stock price performance immediately after options grants to senior management the purported dates of which can be ascertained by inspecting a company's Form 4 filings, generally available online at the SEC's website was suspicious.

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In re UnitedHealth Grp. Inc. PSLRA Litig.

form of stock options. In 2005 a study was conducted on the timing of corporate executive stock options awards. The study concluded that it was likely in some cases the timing of stock options grants was manipulated or backdated in order to make the options profitable.1 Now, more than 130 companies are either being investigated by the SEC and

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The Dangers Of Options Backdating - Investopedia

Largest Recovery Arising Out of Options Backdating Scandal. On July 1, 2008, California Public Employees’ Retirement System (“CalPERS”) and Alaska Plumbing and Pipefitting Industry Pension Trust (“Alaska”) announced a settlement with UnitedHealth Group Inc. and certain individual defendants for a record-breaking $895 million.

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OPTIONS BACKDATING - TexasBarCLE

Unfortunately, these conditions are rarely met, making backdating of grants illegal in most cases. (In fact, it can be argued that if these conditions hold, there is little reason to backdating options, because the firm can simply grant in-the-money options instead.) How do we know that backdating takes place in practice?

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FBI Says Stock Options Fraud Cases Aim for Level Playing Field

Options (the right to buy or sell stock at a set price) are only valuable when a company’s stock price rises—a grant of 100 options at $5 per share is more valuable than 100 options granted at $6. It’s a variation on the stock market’s golden “buy-low, sell-high” …

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Options Backdating - SGR Law

12/6/2007 · "Whenever a corporate officer misleads investors about a company's performance by secretly backdating stock options, the integrity of our markets is undermined," said SEC Chairman Christopher Cox. "As demonstrated in this case, the SEC is committed to holding corporate officers accountable for illegally backdating stock options and will seek

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SEC sues Maxim in stock options backdating case - MarketWatch

with the stock option backdating and spring-loading allegations that began circulating in the press in 2006. The first of the option backdating cases is Ryan v. Gifford, 2007 WL 1018208 (Del. Ch. 2007). Ryan concerned allegations of backdating involving the stock of Maxim Integrated Products, Inc. In a shareholder derivative action, the

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Backdating Employee Stock Options: Accounting and Legal

Stock Option Backdating: What’s the Big Deal? Backdating of stock options is, therefore, attractive because a date with a particularly low stock price can be selected. With a lower exercise price, this makes the options “in the money” when granted and therefore the executive is already in a profitable position. In the worst cases

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FBI — Options Cases Aim For Level Field

The complaint said Maxim "routinely backdated stock options to dates corresponding backdating historical lows in Maxim's backdating price, and falsified records to make it appear as though the options were granted 'at-the-money'" or equal to the current market price. For example, on …

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Backdating Scandal Ends With a Whimper - The New York Times

Options backdating is the process of granting an option that is dated before the actual issuances of the option. In this way, the exercise price of the granted option can be set at a lower price

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Stock Option Backdating: What’s the Big Deal? – Fraud

Options backdating: | |Options backdating| is the practice of altering the date a stock option was granted, to World Heritage Encyclopedia, the aggregation of the largest online encyclopedias available, and the most definitive collection ever assembled.

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STOCK OPTION BACKDATING AND SPRING-LOADING: OMINOUS

8/19/2009 · Third, I can’t see the plaintiffs’ lawyers getting excited now to file a new round of options backdating cases. While there were some notable exceptions, by and large, many of the plethora of options backdating cases the plaintiffs’ lawyers scrambled to file between 2006 and 2008 didn’t turn out all that great for the plaintiffs.

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Stock option backdating cases - elizabethfarnum.com

8/19/2013 · Before the clamor about the lack of prosecutions from the financial crisis and the current crackdown on insider trading, the practice of backdating stock options came to light seven years ago and prompted a flurry of prosecutions. The practice is now long forgotten, but it looks as if the last of

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Fraud versus Ethics: The Case of Backdating the Stock Option

10/6/2011 · In one of the Steve Jobs obituaries there is this reference to the backdated options scandal at Apple. In 2001 he was granted stock options amounting to 7.5 million Apple shares, allegedly without