Lie speaks about options backdating
Bookmark & ShareNovember 7, 2007
Electronic Arts, the video-game creator, announced Tuesday that the Securities and Exchange Commission dropped its probe into the company's stock-option backdating practices and would not take any action. Several executives have faced severe fallout from backdating scandals during the last several years. Those found guilty of the practice -- which involves manipulating the award dates of stock options -- have paid a heavy price. Speaking at a convention in Boston last month, ERIK LIE, the University of Iowa professor credited with uncovering the backdating issue, said more than 2,000 companies manipulated stock-option grants. "We only see the tip of the iceberg," Lie said. CFO.com is an online publication for financial professionals.
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