More options backdating...
Today's Journal has another front-page article on companies whose option grants are oddly timed to coincide with intrayear lows in the stock price. The writers, Charles Forelle and James Bandler (give these guys a Pulitzer next year, OK?), identify five additional companies--Trident Microsystems, Renal Care Group, Boston Communications Group (which just survived a nasty patent litigation), KLA-Tencor and Meade Instruments--with statistically near-impossible patterns of option grants (see method used here).The most likely culprit--intentional backdating of options. This situation (approaching scandal level, wouldn't you say?) has ended the careers of several executives, and that's only the beginning.
Why is it that people already making gobs of money feel the need to cheat, steal or sleaze their way to yet more?
newspapers, media, errors, Wall Street Journal
posted by Unknown @ 5/22/2006 09:30:00 AM
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