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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (91164)10/2/2007 9:36:23 PM
From: RockyBalboaRead Replies (1) of 306849
 
LT, I know nothing about your beef with it and so i can not clearly follow you on this.

When it comes to backdating tho we are very likely on the opposite sides. I have looked at many companies with alleged backdating and also an opaque stock repurchase to the tune of 2B in cash which is not exactly small fry;

I will leave it to academics to devise a formula on how to exactly quantify the ex tunc damage of a backdating event...

But usually generally accepted regulations do apply: whether it is undocumented discounted sale of common stock in pipes; lowering exercise prices for existing stock options or looking up a date with a low market price to issue new ones.
If done without proper disclosure (and this is what we talk here) then it is diluting the equity in retrospect by a definite and not purely stochastic amount as it was when options were granted at the current price, stocks not purchased at a discount etc. This is the skim from outside shareholders and it can certainly be quantified.
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