At the end of the day, Jobs dodged a bullet because of 1 his value to Apple's shareholders, 2 his value to the U.One of the larger backdating scandals occurred at Brocade Communications , a data storage company.RIM compassionate statements declared that the members were only at negative market value at the time they were granted, the OSC boundless.Behalf sections rim stock options backdating thorough They have not admitted or viewed of the finest levelled by the sightseer.The SEC said Reyes repeatedly granted “in-the-money” options to employees and executives, but signed backdated grant paperwork to avoid reporting significant expenses.Byrd received information indicating this misconduct but did not fully determine its scope or ensure the options were properly accounted for, the SEC said.Heinen actually covered up the back-dating, which addicted Assembly's newspapers to be capable.
(Adds case details) WASHINGTON, Aug 17 (Reuters) - The U. Securities and Exchange Commission charged Brocade Communications Systems Inc.’s BRCD.
O former chief financial officer with fraud on Friday, saying he disregarded indications other executives were backdating stock options. jury convicted the former Brocade CEO Gregory Reyes earlier this month in the government’s first criminal trial of options backdating.
The SEC said Michael Byrd learned of instances in which Brocade’s former CEO and others were backdating options for certain people, but did not ensure the company properly accounted for the expenses and disclosed them to investors. Brocade has already agreed to pay a million civil penalty to settle charges of fraudulent stock option backdating.
Heinen for their alleged roles in backdating Apple options. Or that an investigation by Disney into options backdating at Pixar also cleared Jobs of any wrongdoing, even though he helped negotiate the deal in which Pixar's star film director, John Lasseter, received backdated options.
The Commission alleges that, in order to avoid reporting this expense, Heinen caused Apple to backdate options to January 17, , when Apple's share price was substantially lower.
The respondents "did not take reasonable steps to provide proper oversight in relation to RIM's options granting practices.