stock option backdating

7 Stories

Jobs, Execs Settle Suit on Backdated Apple Options

Tentative $14M deal will put an array of state and federal lawsuits to rest

(Newser) - Apple CEO Steve Jobs and several current and former execs have reached a tentative settlement on a shareholder lawsuit alleging they backdated stock options to boost their pay, the Wall Street Journal reports. Apple will receive $14 million in the deal, which would end a series of state and federal... More »

Ex-Broadcom Boss Charged With Drugging Exec Drinks

Dozens of drug, fraud charges for billionaire

(Newser) - Broadcom's co-founder has been indicted on an astounding spate of federal fraud and narcotics charges, the Wall Street Journal reports. Henry Nicholas III is accused of using and distributing drugs over a seven-year period while directing a criminal stock options-backdating conspiracy that cost the firm billions. Prosecutors claim he secretly... More »

Broadcom Execs Charged With Backdating Stock Options

Chip-maker allegedly hooked up employees

(Newser) - The SEC has filed civil charges against four top Broadcom execs, alleging that the men backdated employee stock-option grants between 1998 and 2003, the Wall Street Journal reports. The suit seeks fines and also the return of their illegal gains. The chip-maker—one of the boom companies of the 1990s—... More »

Steve Jobs: Brilliant Tyrant

Apple's mercurial CEO creates a risky rollercoaster ride for shareholders

(Newser) - Steve Jobs is an undisputed Silicon Valley superstar, but his genius has a price, Fortune reports. Jobs is a risk-taking, short-tempered tyrant, and those foibles make Apple a potential rollercoaster for investors. Jobs threatened the company—and his own freedom—in two separate backdating scandals, and, reports the magazine, risked... More »

Ex-Brocade CEO Gets 21 Months for Backdating

Gregory Reyes was the first exec convicted of the stock options offense

(Newser) - The first executive ever convicted of backdating stock options was sentenced today to 21 month in prison and ordered to pay a $15 million fine, the Wall Street Journal reports. Former Brocade CEO Gregory Reyes was found guilty in August of 10 fraud and conspiracy charges. He said today he... More »

HP-Owned Mercury Settles Backdating Suit

$117.5 award in class action case is largest yet for options mischief

(Newser) - In the largest settlement yet for a class action lawsuit concerning stock options backdating, Mercury Interactive will pay out $117.5 million to pension fund investors, the San Jose Mercury News reports. Mercury's counsel was quick to say that the company was not admitting liability despite agreeing to the settlement.... More »

Apple CEO Subpoenaed by SEC

Jobs doesn't appear to be target in backdated options case

(Newser) - Apple CEO Steve Jobs has been subpoenaed by the Securities and Exchange Commission in a case involving backdated stock options, the Wall Street Journal reports. Apple's former counsel, Nancy Heinen, is the target and not Jobs. Though Apple already admitted to backdating options, and that Jobs had a hand in... More »

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