Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Travis_Bickle who wrote (91170)	10/2/2007 10:26:30 PM
From: Lizzie Tudor	Respond to of 306849

yeah there were all kinds of paper trails at every company and those are in evidence. The issue is that at every company the lawyer (at Apple) or the HR person (at brocade) or some "underling" would pick the date and draw up the documents to send to the SEC and the "date of" on the grant paperwork said it was the backdated date and not today's date. Because it had the backdated date the company could declare these as "at the money" and not pay a compensation expense for all the employees and the employees didn't have to pay FICA on "income" because I started when the stock was $20 but my options were granted $17. Its that date, which is clearly wrong that is the fraud. And then the CEO signs it. But at the moneys had to be called out in the footnotes using black scholes so it wasn't like they were hidden and BS is more costly as an expense than a direct line on the income statement. The problem is, the feds have disingenuously presented this as an "executive option" thing, when it isn't. The only execs involved are the cases where the execs get the same prices as the employees (apple). Most don't. As you can see I think from my explanation, the feds couldn't have won a criminal case on this without "stretching the truth" which they did. They claimed that the CEO and HR VP at Brocade connived and schemed to put that date on the options paperwork, and hide from the CFO and finance staff. But the CFO and finance were interviewed by the SEC and said they didn't think they needed to expense "committee of one" which is what everybody thought. This was called out in the defense motion for mistrial but rejected when clearly this was prosecutorial overreaching to say the least. You want to know how OJ and Phil Spector juries get created.... this is how. I think the lawyers should be disbarred. And the jury are a bunch of retards.