Or did a lot of CEOs just have amazingly good luck?
A stock option gives the recipient the right to purchase stock at a set price.
The information in this post was last updated on September 10, 2008 The purpose of this blog post is to track options backdating related litigation.
All of the companies that have been sued — and of which the will note at the top and bottom of this post the date on which the information was most recently updated, and will indicate in red which information has been most recently added.
However, the Federal Court of the United States in San Jose later declined to enter a director and officer bar sought by the SEC, finding that the SEC had failed to demonstrate that Schroeder "possessed the degree of scienter sufficient to impose a five year director bar." Schroeder graduated from the University of Wisconsin, Madison with a Bachelor of Science degree in electrical engineering in 1967.
He received a Master’s degree in business from the Wharton School of the University of Pennsylvania in 1969.
In researching this post, I came across a number of recent reports on Henry Nicholas III, the once high-flying CEO and cofounder of Broadcom. While the story was enthralling, I didn't understand what any of it had to do with a federal investigation into stock option backdating.
Exercising them after it has reached would bring a profit of times 100,000, or million.
Securities Fraud Class Actions (Total as of latest update = 39): 1. Amkor Technology (see discussion of this case here) 3.
Newpark Resources (see discussion of this case here) 24. Pain Care Holdings (see discussion of this case here).
Readers interested in keeping up to date on the number of lawsuits will want to check back frequently.
The running tallies below are meant to include a listing of any company that has been sued based on allegations of options timing manipulations, regardless whether the allegations are based on options backdating, options springloading, or hiring-related options timing.