Stock option backdating restatements


16-Feb-2016 14:40

Cases of backdating employee stock options have drawn public and media attention.According to a study by Erik Lie, a finance professor at the University of Iowa, more than 2,000 companies used options backdating in some form to reward their senior executives between 19.Below are the most common reasons: This site uses cookies to improve performance by remembering that you are logged in when you go from page to page.

There are many reasons why a cookie could not be set correctly.“It’s almost like a death in the family,” says Trent Gazzaway, national managing partner of corporate governance for audit firm Grant Thornton LLP.In cases where fraud or some premeditated accounting abuse is at the root of the errors, fear of litigation or prosecution adds to worries about how to correct the numbers and reestablish internal controls.Options backdating is the practice of altering the date a stock option was granted, to a usually earlier (but sometimes later) date at which the underlying stock price was lower.

This is a way of repricing options to make them valuable or more valuable when the option "strike price" (the fixed price at which the owner of the option can purchase stock) is fixed to the stock price at the date the option was granted.

Recognizing the inherent complexity of the federal securities laws, clients take comfort in the fact that Labaton Sucharow has been prosecuting—and winning—high-profile securities cases for more than half a century.



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