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Source: www.news.com --- 4 days ago
The lawsuits continue to pile up for Apple, as shareholders try to punish members of the board for the practice of Backdating stock options in the early part of this decade. ... Source: www.moreover.com --- 33 days ago
Extract not available. ... Source: www.moreover.com --- 33 days ago
Extract not available. ... Source: www.washingtonpost.com --- 12 days ago
LOS ANGELES (Reuters) - Broadcom Corp co-founder Henry Samueli pleaded guilty on Monday to a criminal charge of making a materially false statement to Securities and Exchange Commission investigators in a Backdating case. ... Source: www.moreover.com --- 33 days ago
Extract not available. ... Source: online.wsj.com --- 4 days ago
UnitedHealth said it agreed to pay $912 million to settle two class-action lawsuits related to stock-options Backdating, as the managed-care provider again lowered its 2008 profit target and projected second-quarter earnings below expectations. ... Source: www.theregister.co.uk --- 3 days ago
SEC may forgive, but lawyers won't forget The US Securities and Exchange Commission may have washed its hands of the Apple stock option Backdating affair, but Steve Jobs and company aren't quite clear of the dirt yet.… ... Source: www.theinquirer.net --- 4 days ago
Sylvie Barak the Inquirer , Wednesday 2 July 2008. 11:08:00 Apple passes sell by date ON FRIDAY, a lawsuit was filed in a San Jose District Court, accusing several high-up Apple execs of fraud for Backdating stock options. Martin Vogel and Kenneth Mahoney are suing the fruity toymaking execs for Backdating which actually goes a fair way back.... ... Source: dallas.bizjournals.com --- 4 days ago
The Securities and Exchange Commission on Tuesday said it has charged chip maker Microtune Inc. and two former senior officers with "perpetrating a fraudulent and deceptive stock option Backdating scheme that awarded themselves and other employees millions of dollars in undisclosed compensation." ... Source: www.newsday.com --- 30 days ago
Cablevision, along with 16 past and current executives, directors and an outside compensation consultant, reached a $34.4 million agreement to settle a series of options-Backdating lawsuits ...
Source: www.lexisnexis.com --- 19 hours ago
MINNEAPOLIS - UnitedHealth Group Inc. (UNH) has reached a settlement in principle to pay investors $895 million to settle federal securities law claims against the health care giant and several current and former executive officers and directors for participating in an alleged stock options Backdating scheme, according to documents filed in the U.S. District Court for the District of Minnesota (In re UnitedHealth Group Inc. PSLRA Litigation, No. 06-1691, D. Minn.). Full story on lexis.com ... Source: www.macnn.com --- 4 days ago
A lawsuit was brought against several key Apple executives on Friday, accusing CEO Steve Jobs and several others of fraud, in relation to the stock option Backdating scandal in recent years. According to a filing with the US District Court in San Jose, Jobs stands with former financial officer Fred Anderson, as well as Nancy Heinen, William Campbel... ... Source: news.dzone.com --- 31 days ago
... Source: www.moreover.com --- 34 days ago
Fortune Jun 1 2008 9:28PM GMT ... Source: www.law.com --- 33 days ago
... Source: www.portfolio.com --- 30 days ago
Henry Nicholas is like a dream come true for the federal investigator stuck in the white-collar department probing routine accounting frauds. That's because the Nicholas investigation evolved into much more than just the options-Backdating allegations that brought him to the Fed's attention. The government unsealed two indictments today against the former Broadcom chief executive accusing him of 25 charges. The first includes your standard fare: conspiracy, securities fraud, filing false statements, wire fraud, and falsifying financial statements. The second includes a whammy: conspiracy to distribute and acquire controlled substances. According to the Los Angeles Times , Nicholas surrendered to authorities this morning. Nicholas was separated from the pack of other executives caught up in the options-Backdating scandal when two lawsuits filed against him included salacious details about his "personal brothel" and "addiction to cocaine and ecstasy." A construction company that filed one of the suits alleged that Nicholas had plans to build an elaborate, secret hideaway in which to engage in his extracurricular activity. The indictment unsealed today accuses Nicholas of spiking his Broadcom employees' drinks with ecstasy and maintaining a warehouse for ecstasy, cocaine, and methamphetamine, according to the Associated Press. Last month, his attorney said that Nicholas had entered an alcohol rehab program. As for the securities-fraud ... Source: www.ecommercetimes.com --- 12 days ago
Broadcom cofounder Henry Samueli pleaded guilty Monday to lying to the Securities and Exchange Commission as it probed stock option Backdating at the chip maker. Samueli, a billionaire philanthropist and owner of the NHL's Anaheim Ducks, told U.S. District Judge Cormac J. Carney he was guilty of the single felony of making a false statement. ...
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Remember that whole Apple stock options Backdating scandal? It's been close to a year since we last covered it, but now it's back in the news, this time in the form of a full-fledged lawsuit filed against Apple . Plaintiffs Martin Vogel and Kenneth Mahoney sued Apple, Steve Jobs, former CFO Fred D. Andserson, former general counsel Nancy R. Heinen, and board members William V. Campbell, Millard S. Drexler, Arthur D. Levinson, and Jerome B. York for securities fraud over concealing the granting of millions of backdated stock options to Apple executives. In their 105-page complaint, Vogel and Mahoney claimed that all the Apple executives and board members they sued knew that the options Backdating was going on, especially Steve Jobs, who got an "instant paper profit" of $20,525,000 on December 18, 2001 when he received 7.5 million Apple shares backdated to October 19, 2001, and $83,762,000 from a 10 million-share grant in January 2000. With this new suit coming out into the open, it seems that the options Backdating scandal has no intentions of dying, which should make for an interesting Q3 earnings call . Primary category: Legal Read - Comments (0) Copyright Mac Publishing LLC. This feed is for personal non-commercial use only. Do not re-post. Contact webmaster@macworld.com if you see this on a web page. ...
Tom Krazit / One More Thing : Jobs, Apple directors face new Backdating suit — Apple CEO Steve Jobs addresses the crowd at WWDC 2008. — (Credit: James Martin/CNET News.com) — Current and former members of Apple, including CEO Steve Jobs and several directors, have been sued again over their role in the company's stock options-Backdating affair. ...
Remember a couple years ago when it seemed like every major technology company—and almost every major U.S. corporation—was fervently auditing its books looking for any financial irregularities that, under new federal legislation, could see their executives facing criminal charges and even jail time for mis-stated financial records? The investigations led to companies like Dell and Take-Two taking major financial hits as the result of having back-dated stock options: that is, making the effective date of a grant of stock options to an employee occur at a particularly advantageous point in the past, effectively increasing the value of the options grant. There's nothing illegal about back-dating options so long as the practice Read | Permalink | Email This | Linking Blogs | More Images ...