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Backdating |
Also found in: Financial, Wikipedia | 0.01 sec. |
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Predating a document or instrument prior to the date it was actually drawn. The negotiability of an instrument is not affected by the fact that it is backdated. |
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According to The Wall Street Journal, which broke the stock options backdating scandal last year, the Justice Department has mounted criminal investigations at 54 companies. Live--a project championed by former Chief Executive Bruce Karatz who resigned in November amid an inquiry into stock options backdating. In options backdating, a company issues stock options on one date but provides fraudulent documentation indicating that the options were issued earlier. |
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