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Columnist Cites Erik Lie for Finding Stock Backdating Scandal

A columnist calling for new rules to prevent corporate scandals like stock options backdating points out that this scandal seems to have been more widespread then the accounting and reporting scandals that brought down companies like Enron and most companies who used backdating or other manipulations probably will never be unmasked. ERIK LIE believes that. He is a University of Iowa finance professor who testified about the practice last year before the U.S. Senate Banking Committee. He estimated, in a co-authored report, that 23 percent of U.S. companies did some backdating between 1996 and 2002. The Post Crescent is published in Wisconsin.

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