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Another Back-Dating Scandal on the Horizon?

By Mark H. Astarita, Esq.

I just stumbled upon this article today. (I literally stumbled upon it, and if you haven't tried stumbleupon, you are missing out on great web sites, and one of the best time-wasters invented by modern man).The article at portfolio.com discusses a study that found that CEOs of public companies apparently have an uncanny ability to time their stock donations so as to increase the value of that donation. And, they are making the donation to their family charitable foundation.That is all well and good, and while we can debate the concept of giving billionaires yet another way of avoiding paying taxes, there is nothing illegal about making this donation. However, it is a problem if they making the donation shortly before a significant price decline, in possession of material inside information...continue to full post

Full post as published by SECLaw.com on March 08, 2008 (boomark / email).