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: RiskProfBackdating Conviction
By The authors are Martin F. Grace and J. Tyler Leverty, professors of insurance and risk management a
The first conviction for the backdating of executive stock option grants was handed down yesterday to an executive from Brocade Communication Systems. He recieved 21 months in prison and a $15 million fine.
Speaking to the judge before his sentencing the executive said, “I’m sorry. There is much that I regret, and if I could turn back the clock, I would.” [emphasis added].
Probably not the best choice of words for someone convicted of turning back the corporate clock to enrich himself.
Full post as published by RiskProf on January 17, 2008 (boomark / email).
Options Backdating
Former Broadcom executive settles $1.3 million stock option backdating lawsuit.

A sentencing scorecard on backdating convictions
Former Brocade CEO Gets 21 Months in Backdating Conviction
Drug Charges Overshadow Backdating Case
Option Backdating and Its Implications









