Report Estimates the Costs of a Stock Options Scandal
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A new study estimates that the stock options backdating scandal may cost shareholders hundreds of millions of dollars.
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The nation's accounting rule maker decided yesterday that companies will have to begin deducting the value of stock options from their profits next year, reining in a cheap way to compensate workers that had been abused by executives and clouded earnings.
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How to wreck an IT giant for under $1m Recovering stolen laptops from Italy - $9,668. Consulting an investigative reporter - $7,312. Having a spy scandal erase decades of hard work building up your reputation, while eroding your board of directors and forcing your CEO to testify in front of Congress - priceless. Or rather about $375,000.â¦
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SAN FRANCISCO -- McAfee's former top lawyer was charged Tuesday with stock options tampering that muddied the finances of the computer security software maker.
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Accounting rule makers issued a standard Thursday that forces companies to expense employee stock options starting in June, ending 10 years of political wrangling and backpedaling.
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The nation&#39;s accounting rule maker decided yesterday that companies will have to begin deducting the value of stock options from their profits next year, reining
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Expected restatement comes as a result of its internal investigation into stock options practices.
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IRVINE, Calif. -- Broadcom Corp., a supplier of chips used in communications devices, said Friday it may need to record expenses starting at $1.5 billion for stock option accounting flaws, double what it had estimated in July.
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The failure to expense stock options is causing distortions and inefficiencies in U.S. labor and capital markets.
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At long last, accounting regulators have published their final rule requiring public companies to expense stock options. The question is whether it will stand.
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Conrad W. Hewitt, chief accountant of the Securities and Exchange Commission, sought yesterday to clarify the proper accounting for backdated options, reserving the harshest accounting for companies that followed a practice of reducing the exercise price after options were issued.
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Marsh & McLennan Cos. revealed what's  at stake in the probe into its behavior by New York Attorney  General Eliot Spitzer, saying it generated $845 million of fat  fees from a practice at the center of a bid-rigging scandal.
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The first civil charges will be  forthcoming &quot;very soon&quot; in the stock options timing scandal  involving dozens of U.S. companies, the nation&#039;s top securities  regulator said on Monday.
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It can be one hectic job running a technology company. Busy, busy, busy. How could you come to any other conclusion after reading the official story from Sycamore Networks Inc. about its $216 million stock option backdating problem? No one at the top had any idea it was going on. For years!
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(InfoWorld) - Rambus will pay $18 million to settle a class-action lawsuit over stock-option accounting. The suit was filed last year on behalf of shareholders afterÂ the audit committee of Rambus's board of directors found that the company had improperly accounted for stock-option grants. Under the settlement, which still needs court approval, all claims against all defendants in the case would be dismissed, according to the company. The audit committee found that option grants to employees had been misdated and the company had improperly accounted for those grants. Rambus had to restate results for 2003 through 2005 and the first quarter 2006 as a result of the investigation. Rambus, in Los Altos, California, makes memory technology. Last month, Rambus settled its own suits against all but one former executive for more than $6.5 million. As part of that deal, claims were dropped against all the former executives except Ed Larsen, former vice president of human resources and senior vice president of administration, who worked for the company from 1996 to 2004. Rambus was one of scores of technology companies, including Apple, McAfee, and Broadcom, that have been embroiled in controversy surrounding accounting for backdated stock options. Many companies used backdating to try to give new employees a greater windfall when they exercised their options.
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Under investigation for stock options backdating, the computer chip maker discovered more irregularities that will double its expenses.
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PARIS Stock option accounting has become an international battleground, but those wars may be nearing an end as major industrial countries move toward rules that force companies to deduct the value of options from their earnings.