Backdating

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Backdating

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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When the SEC and the Internal Revenue Service were investigating stock options backdating, the company that did not conduct an internal investigation was an anomaly.
Two of these, the Brocade Communications and Marvell Technology Group cases, which settled for $161 million and $72 million respectively, were ranked by SCAS as the second- and fourth-largest options backdating class action settlements of all time.
Yet another stock options backdating case blew up Dec.
Jesse Fried of the University of California at Berkeley offers two new, practical approaches companies can adopt to help prevent insider trading and options backdating litigation.
LexisNexis unit Mealey's (New York) has released "Mealey's Litigation Update: Stock Option Backdating," an executive summary that includes a collection of 57 case summaries and litigation updates reporting on complaints, motions, briefs, other pleadings, settlements and rulings involving stock options backdating litigation.
The SEC continues its investigation of 130 companies, and at least that many companies or more are conducting investigations that will report options backdating or springloading.
In options backdating, a company issues stock options on one date but provides fraudulent documentation indicating that the options were issued earlier.
In professional liability, the markets for directors' and officers' insurance have been especially active, in the wake of ongoing government investigations and the most recent developments in stock options backdating.
This Essay examines the problem of tax noncompliance through the prism of the options backdating scandal.
The company's former CEO, George Samenuk, stepped down in October as part of a stock options backdating scandal that also led to the ouster of President Kevin Weiss.