The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: UncleBigs who wrote (66228)	7/17/2006 1:29:13 AM
From: XBrit	Read Replies (1) of 110194

Option backdating is not in itself illegal. before Sarbanes-Oxley, options grants did not even have to be reported for many weeks after the event. What is usually illegal is for executives to award themselves any form of compensation without board approval and disclosure to shareholders. That was one of the things they got the Tyco guy, Koslowski, for... compensation and/or never-repaid "loans" which the board hadn't approved. So I think the investigative process may take a while here... gotta prove not just that the options were backdated but also who knew what when.

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