Investigations into the backdating of stock options has caused around half of the more than 100 companies under scrutiny by the SEC and/or the Department of Justice to miss deadlines for filing earnings. More are likely to follow, says Todd Fernandez, senior analyst at independent institutional research firm Glass Lewis & Co.
It is alleged that the date of options granted to executives was manipulated so that they appeared to have been granted at an earlier date when the price was more favourable.
Thanks for your interest in Euromoney!
To unlock this article:
