Sec stock option backdating cases

Rated 4.23/5 based on 541 customer reviews

However, higher-up finance department employees had told the FBI that they did know about the backdating, but those witnesses did not testify because they were subject to possible criminal prosecution and had been targets of SEC civil suits.In the prosecutor’s closing argument, he told the jury that “finance did not know anything” in direct contravention of the statements given to the FBI.

“Clearly the SEC doesn’t think (this is overblown), which is why we have focused enforcement resources on the problem,” Cox said.We have included portions of the transcript from December 15, 2009, when Judge Carney of the Central District of California dismissed the backdating cases, explaining: Nancy Tullos was Broadcom’s vice president of human resources.This is what Judge Carney said of Stolper’s conduct regarding Ms.Stock-option backdating is back in the news, with Quest Software, a midcap provider of point-of-sale systems, settling civil charges by the Securities and Exchange Commission.The SEC also settled a fraud case against Med Quist Inc., a small-cap medical-transcription company.

Leave a Reply