Lie Glad His Work Has Had an Impact
Bookmark & ShareMarch 6, 2007
Source: Toronto Globe and Mail
It's not often that a mild-mannered finance professor can prompt one of the most widespread investigations into allegations of corporate wrongdoing in U.S. history. But ERIK LIE at the University of Iowa has managed to do just that. The 38-year-old professor's research into the backdating of stock options has prompted the Securities and Exchange Commission to investigate stock option granting practices at roughly 140 companies. Some executives have been dismissed and a couple have even pleaded guilty to criminal charges. In addition to working with the SEC, Prof. Lie has testified before the U.S. Congress on the issue and acted as a consultant on several shareholder lawsuits, including one filed against Research In Motion Ltd. "At this point I am surprised," Prof. Lie said Monday from his office in Iowa City when asked about the reaction to his work. "I think any researcher is hoping that his or her research will have some impact. So, yeah, I am very happy to have seen that kind of an impact."
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