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News and Information

News and Information

May 25, 2007
CalPERS Withholds Votes for Corporate Board Members Over Stock Option Backdating

Source: CalPERS

SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) today announced it is opposing the re-election of four more directors to the boards of companies named in the backdating of employee stock options.

February 15, 2007
SEC Charges Former General Counsel of Monster Worldwide, Inc. for Backdating Options

Source: US Securities and Exchange Commission

Washington, D.C. - The Securities and Exchange Commission today charged Myron F. Olesnyckyj, the former General Counsel of Monster Worldwide, Inc. with securities fraud for participating in a multi-year scheme to secretly

February 14, 2007
SEC Announces $6.3 Million Settlement With Former Take-Two Interactive Software, Inc. CEO in Stock Option Backdating Scheme

Source: Securities and Exchange Commission

New York County District Attorney's Office Announces Separate Criminal Plea Agreement

January 12, 2007
Study Links Options Backdating to Corporate Governance Weaknesses

Source: Bill Baue in SocialFunds

Harvard Professor Lucian Bebchuk and colleagues use a new method of identifying CEO and outside director manipulation of stock option timing and assert correlations to governance problems.

 

 

January 10, 2007
SEC Settles Options Backdating Case Against William Sorin, Former General Counsel of Comverse Technology, Inc.; Relief Includes Officer-and-Director Bar and Over $3 Million in Civil Penalties, Disgorgement, and Prejudgment Interest

Source: SEC

Washington, D.C.- The Securities and Exchange Commission today settled civil fraud charges against the former General Counsel of Comverse Technology, Inc., William F. Sorin, under an agreement which provides for the payment of...

October 15, 2006
UnitedHealth Group Board Announces Series of Actions

Source: UnitedHealth Group

Minneapolis, Minn.– The Special Review Committee of the Board of Directors of UnitedHealth Group (NYSE: UNH) and its independent counsel, Wilmer Cutler Pickering Hale and Dorr, have completed a review and report of UnitedHealth...

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