Ibm options back dating
The date chosen could be one when the company’s stock was at a low, so the options can be in-the-money at the time of granting itself.
The practice is illegal if it is not followed by proper disclosure and related expenses are not recorded in financial statements.
attorney for the Southern District of New York, was a prominent player in the largest hedge-fund insider trading case ever charged.
Y.-based firm that advised several prominent hedge funds and was formerly a part of Bear Stearns Asset Management group.
Federal investigators are combing the records of scores of companies looking for abusive manipulation of the grant dates and exercise prices of stock options given to executives.
Participants include: Erik Lie Associate Professor of Finance and Henry B.
2 in an effort to clear up internal finances after firing its president and chief executive in late 2006 over a share price backdating scandal .
Reyes, the former chief executive of the San Jose, CA-based data center infrastructure company, was found guilty on eight counts, including securities fraud and making false statements; however, he was acquitted on the charge of conspiracy.
This is the not the first case brought by the government against Reyes, who had been found guilty on 10 counts of backdating options in 2007, where he was fined million and sentenced to 21 months in prison.
Intel (NASDAQ: INTC) placed Goel on administrative leave and initiated its own investigation into the allegations, according spokesman Chuck Malloy. IBM said Rod Adkins, senior vice president in charge of development and manufacturing, will now serve as acting leader of IBM's systems and technology group.
Federal prosecutors are accusing Moffat of passing on insider information garnered during business negotiations with AMD (NYSE: AMD) to Chiesi as well as information about IBM and Sun Microsystems (NASDAQ: JAVA).