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Heinen allegedly covered up the back-dating, which caused Apple's earnings to be inflated.This apparently violates a whole bunch of SEC rules.We're talking top executives at big-name companies like Apple, Altera, Broadcom, Brocade, Cirrus Logic, Comverse, KLA-Tencor, Maxim, Mc Afee, Rambus, Sanmina-SCI, Take Two, Trident, Verisign, and Vitesse. That's serious fallout considering that options backdating is legit as long as the company reports it and accounts for it accurately.You see, if you backdate stock options to a date when the price of the stock was lower, then the options are "in-the-money" when granted.
I count no fewer than 38 top executives at 19 high-tech companies that have bit the dust over this stuff.“We don’t get ours but you get yours,” Ferracone phrased it.“I think it does go to the corporate culture,” said Michael Klenov, an attorney with plaintiff law firm Korein Tillery.The result was a 2,382 increase, according to Reuters.The charge, originally from Japanese magazine Bungei Shunju, came from the first interview given by Greg Kelly, a former Nissan director who was an aide to former CEO and chairman Carlos Ghosn, since Kelly was arrested in 2018 and then freed from jail in December.
“But when stocks are down 20%, people are wondering.” Backdating in the U. —A red flag to investors: The stock market may be hitting the “triple top” —The Renault deal is dead, but Fiat Chrysler still needs a partner —Many economists think the next recession will be before the 2020 election —The S&P 500 has performed far worse under Trump than Obama —Listen to our new audio briefing, Fortune 500 Daily Don’t miss the daily Term Sheet, Fortune‘s newsletter on deals and dealmakers.