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Backdating Options - Politics, Business, Civil, History - Posted: 24th Apr, 2007 - 11:55pm
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Post Date: 24th Apr, 2007 - 11:55pm / Post ID: #
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Backdating Options
Backdating Options
On Wall Street, a new financial scandal is exploding -- and today it reached two former officers of Apple Inc. The scam sounds simple: Top executives are awarded options to purchase stock at a certain specified time. If the price goes up, they sell and make money. All fine, all legal. But the Securities and Exchange Commission is now investigating many companies that have been backdating those options to ensure that executives make a lot more money.
Ref. Tonight on Nightline
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TOPIC: Backdating Options