UI Professor Describes Backdating As Widespread
Bookmark & ShareJuly 31, 2006
Source: Seattle Times
Stock options are part of the bedrock on which Silicon Valley is built. That bedrock is now cracking under the seismic pressure of the widening options-backdating scandal. Among the latest developments, federal prosecutors in San Francisco filed criminal charges against top executives at Brocade Communications Systems, while the Securities and Exchange Commission is likely to pursue civil cases. Meanwhile, the UNIVERSITY OF IOWA researcher who kicked off the scandal last year by pointing to possible backdating at a handful of companies has just announced new findings: Some 29 percent of 7,774 public companies he's examined - a total of 2,270 - are suspected of backdating.
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