"Everyone has tricks up their sleeves, backdating bills," she said.
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Mr. Alexander vanished in 2006 while under investigation for backdating stock options.
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Records show most of the backdating was done by the contract employee.
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He's also found himself indicted for improperly backdating stock options and drug-related offenses.
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But the companies caught up in the options backdating scandal were all publicly traded.
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Mnuchin says considering backdating tax cut to January 1: Would be 'boon' to economy
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They wrote that Mr. Zuberi wrote a refund check to the man, backdating it to Feb.
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Secret backdating, however, is illegal, and indicates that corporations are underreporting their taxable income to the IRS.
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For instance, it found numerous examples of backdating to dates prior to when OneWest opened for business.
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Rather, he was charged with obstruction of justice for destroying evidence and backdating the $50,000 refund check.
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In 2007, William W. McGuire of UnitedHealthGroup was forced to give back $618 million over backdating options.
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The lead investigator was later forced to resign after backdating a search warrant in an unrelated murder case.
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The company was eventually charged with illegally backdating stock options and had to pay a $3 million penalty.
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In backdating, a company retroactively grants stock options on dates when stock prices are lower, making them more valuable.
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In backdating, a company retroactively grants stock options on dates when stock prices were lower, making them more valuable.
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The age of the trees allowed for a kind of backdating of Manifest Destiny, into the mists of prehistory.
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Steve Jobs participated in backdating stock option-based compensation at Apple, including his own, in order to inflate the options' value.
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Backdating itself is not illegal if it is authorized by a company's board, fully disclosed, and complies with reporting and tax rules.
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The International Tennis Federation imposed the two-year suspension in June, backdating her time served to January because she had been cooperative.
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Jacob "Kobi" Alexander, 64, will plead guilty to one count of backdating stock options, the lawyer, Benjamin Brafman, said in an email.
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He had admitted to some of the practices used to flatter revenues (such as backdating deals and doing "round-trip" transactions) and been fined.
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However, an agreement has not yet been reached on backdating the higher tariffs to January as proposed by power firm Zesco Ltd, he said.
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Finance professor Eric Lie's research was the first to show evidence of this illegal backdating trend and was hugely influential in the SEC's investigations.
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The Securities and Exchange Commission interviewed Apple CEO Steve Jobs in the mid-2000s while investigating the company over its backdating of stock options.
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Treasury Secretary Steven Mnuchin said Tuesday the Trump administration is considering backdating tax reform to the start of this year to boost the economy.
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William Taft, according to the paper, ordered the backdating of a Justice Department document to give him cover for firing a whistleblowing federal employee.
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The lawsuit accuses a prosecutor in the case, Frank DiFranco, along with Guevara's fellow officers, of backdating and falsifying reports and lying about Maysonet's confession.
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He had little experience in publishing and was also on probation, having pleaded guilty in 2007 to backdating stock options at a video game company.
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A pulmonologist, McGuire resigned as UnitedHealth's chief executive in 2006 while the Securities and Exchange Commission investigated him because he was suspected of backdating stock options.
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This could mean falsifying or backdating anything from the quick check-ins that floor workers are supposed to perform on patients every 15 minutes to official medical charts.
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At the CNBC-Institutional Investor Delivering Alpha conference, he also said the administration is considering backdating tax reform to the start of this year to boost the economy.
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The SEC previously cracked down on Silicon Valley a decade ago, after The Wall Street Journal revealed that tech companies were backdating stock option grants to increase CEO payouts.
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Count seven accuses Mr. Shkreli of misappropriating funds from Retrophin, including backdating forms to make it look as if MSMB Capital had invested in Retrophin when it had not.
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Alexander's case is one of the last remaining major criminal cases stemming from the dot-com bubble, and from federal probes into stock options backdating at more than 200 companies.
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The defense also pointed out that the lead investigator in the killing was later forced to resign after backdating a search warrant in an unrelated murder case, the Chronicle reports.
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Before the hearing, Benjamin Brafman, a defense lawyer, said Mr. Alexander would plead guilty to one count "relating solely to backdating" and would seek release on a $25 million bond.
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Backdating "is still something we are considering and it would be a big boon for the economy," he said at the Delivering Alpha conference presented by CNBC and Institutional Investor.
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Backdating "is still something we are considering and it would be a big boon for the economy, " he said at the Delivering Alpha conference presented by CNBC and Institutional Investor.
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Jacob "Kobi" Alexander, 64, will admit to one count of backdating stock options in the federal court in Brooklyn on Wednesday, his lawyer, Benjamin Brafman, said in an email on Monday.
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In docs obtained by TMZ, Wayne's camp says Universal knew that backdating the deals would screw Lil Wayne out of profits from Young Money and the artists signed under his label.
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The evidence includes the backdating of notarized and recorded documents in 99.6 percent of the examined mortgage files and unlawful credit bids and substitutions of trustees in 16.0 percent of those files.
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Alexander and Comverse's general counsel William Sorin and finance chief David Kreinberg were charged in what prosecutors said was a "fraudulent scheme" to reap millions of dollars from backdating between 1998 and 2001.
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Richard W. Painter, a White House ethics lawyer in the George W. Bush administration, who has been critical of the Trump administration's approach to ethics, said that backdating was not an acceptable approach.
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The other four defendants helped Garmo by participating in the straw purchases, backdating paperwork to avoid the 10-day waiting requirement and helping Garmo's customers obtain expedited weapons permits through illicit cash payments.
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Investors also set their sights on Washington after Treasury Secretary Mnuchin said he was "hopeful" that tax reform would be accomplished by year's end, adding the administration is thinking about backdating reform to Jan. 1.
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The case is one of the last open prosecutions arising from government or internal investigations of stock options backdating at over 200 companies, including Comverse, which was acquired in 2013 by former unit Verint Systems Inc.
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The Independent reported that Trump told aides to calculate how much German spending fell below that 85033 percent mark in the past 12 years — backdating the invoice to when Merkel's predecessor was in charge — then add interest.
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In Vides, Judge Stanton ruled in a stock options backdating suit against board members of SBC Communications that plaintiffs did not have to show demand futility to move forward with a proxy disclosure claim under Section 14.
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And that deposition is fascinating, because in a deposition, of course, you have to give your own life story, but it's the arrogance and the contempt with which ... This is about the backdating of options ... Yes, correct.
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After backdating a hypothetical revenue-share investment in the 30 companies, we found that, on average, it would take around 4.4 years to realize a 3x return on the initial investment amount, which ranged from $20,000 to $100,000.
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The case was one of the last open U.S. prosecutions arising from government or internal investigations of backdating of stock options at over 200 companies, including Comverse, which was acquired in 2013 by former unit Verint Systems Inc.
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Investigations were launched, including into Apple; the SEC even set up a related "Stock Options Task Force" and filed charges against two former Apple execs for their alleged roles in backdating Apple options — both of whom settled without admitting wrongdoing.
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The Fayetteville Observer reported in 1991 that Mr. Dowless and the woman he eventually married had, after the employee's death, taken out a six-figure life insurance policy in the man's name by forging a signature and backdating a document.
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Backdating the Gilded Age to 18963 may explain White's odd retrieval of the traditional malicious caricature of Ulysses S. Grant — the president who, with all his flaws and errors, did break the Ku Klux Klan — as an inept, money-struck coddler of corruption.
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The firm was stacked with former federal prosecutors who represented computer chipmaker Broadcom in stock options backdating charges by the Justice Department, and went about wooing even more clients with a splashy new hire: one of the lead prosecutors who investigated fraud at Enron.
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Unclear. While Twitter does not seem to allow any kind of official backdating on tweets, we cannot rule out the possibility that there is a third party app or hacking method that allows someone to make it appear as if they tweeted something months ago.
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But executives have been known to use other tricks — say, options backdating or earnings manipulation, or simply lobbying the compensation committee of their company's board, or putting corporate strategy at the service of the current quarter's earnings to give the share price a bump.
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But the criminal case against him remained the final loose end, complicated by the notoriously slow wheels of justice in Namibia, and the fact that dot-com era options backdating cases brought by the previous administration were not exactly a top priority in the U.S. Justice Department.
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Contador, who blamed it on contaminated steak, initially had a one-year ban lifted by the Spanish cycling federation but the Court of Arbitration for Sport (CAS) eventually banned him, backdating it to January 2011 and erasing all his results from July 2010 to February 2012.
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Ghosn and Kelly "crafted various ways to structure payment of the undisclosed compensation after Ghosn's retirement, such as entering into secret contracts, backdating letters to grant Ghosn interests in Nissan's Long Term Incentive Plan, and changing the calculation of Ghosn's pension allowance to provide more than $50 million in additional benefits," the SEC said in a statement.
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Flaccus, Gillian. Broadcom backdating case dismissed. Associated Press via San Francisco Chronicle, 2009-12-16.
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Bander, James. "McKelvey Admits Monster Backdating", The Wall Street Journal, January 24, 2008. Accessed November 30, 2008.
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Reyes was sentenced to 21 months in prison in addition to a $15 million fine, making him the first executive to be convicted of the concealment of stock options backdating. On August 11, 2007 Reyes was convicted on 10 counts of illegally backdating stock options while serving as CEO of Brocade.Ousted Brocade CEO Convicted On All 10 Counts Of the Criminal Backdating Charges, linux.sys-con.com, Aug. 16, 2007 In January 2008, he was sentenced to 21 months in prison and received a $15 million fine.
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At one extreme, where it is clear that top management was guilty of conscious wrongdoing in backdating, attempted to conceal the backdating by falsifying documents, and where the backdating resulted in a substantial overstatement of the company's profitability, SEC enforcement actions and even criminal charges have resulted. Toward the other extreme, where the backdating was a result of overly informal internal procedures or even just delays in finalizing the paperwork documenting options grants, not intentional wrongdoing, there is likely to be no formal sanction—although the company may have to restate its financial statements to bring its accounting into compliance with applicable accounting rules. With respect to the more serious cases of backdating, it is likely that most of the criminal actions that the government intended to bring were brought in 2007. There is a five- year statute of limitations for securities fraud, and under the Sarbanes-Oxley Act of 2002, option grants to senior management must be reported within two days of the grant date.
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Nicholas and other Broadcom executives were indicted in June 2008 for stock fraud and options backdating. At the same time, Nicholas was also indicted on drug charges. The charges caused considerable scandal, and were the subject of much speculation in the press. Judge Cormac J. Carney threw out the stock fraud and options backdating charges in December 2009.
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Suit: Hemsley had bigger role in UNH backdating David Phelps, Minneapolis Star Tribune, May 22, 2008 The company's two investigations largely exonerated him from the backdating scandal. However, the U.S. Securities and Exchange Commission(SEC) continued its investigations even after it in 2008 settled legal actions against both United Health Care itself and its former general counsel.
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In 2006, the U.S. Securities and Exchange Commission (SEC) began investigating the conduct of UnitedHealth Group's management and directors, for backdating of stock options. Investigations were also begun by the Internal Revenue Service and prosecutors in the U.S. attorney's office for the Southern District of New York, who subpoenaed documents from the company. The investigations came to light after a series of probing stories in the Wall Street Journal in May 2006, discussing apparent backdating of hundreds of millions of dollars' worth of stock options by UHC management. The backdating apparently occurred with the knowledge and approval of the directors, according to the Journal.
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In 2006, more than 200 US companies restated their financial results due to a series of investigations into stock backdating practices. Juniper stockholders alleged the company engaged in deceptive backdating practices that benefited its top executives unfairly. In December 2006, Juniper restated its financials, charging $900 million in expenses to correct backdated stock options from 1999 to 2003. This was followed by a $169 million settlement with stockholders in February 2010.
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He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 WAFL season.
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As of September 1, 2009, Take-Two agreed to settle a securities class-action suit related to the controversy over the game and over backdating allegations for just over $20 million.
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In a letter to Fortune Magazine she told an editor that she, as well as other high-ranking members of the finance department, had been aware of the practice of backdating stock options to rank-and-file employees. Moore's conflicting statements were not disclosed during the trial, and prosecutor Adam Reeves made numerous statements to the jury using Moore's testimony to support his argument that Reyes had deceived Brocade's finance department; he presented a diagram to illustrate that no one in the finance department was aware of the backdating; he made statements in his closing arguments claiming that employees of the finance department did not have any idea that the backdating had occurred, adding that the government's theory, based on their investigational findings, supported this conclusion. Reyes filed a motion for a new trial on the grounds of prosecutorial misconduct, which was denied by the district court. On January 16, 2008, Reyes was found guilty of 10 counts of fraud and conspiracy, including falsifying corporate accounting books and records, and participating in a stock options backdating scheme.
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However, prior to that, Brant had already stepped down as CEO to remain as chairman through 2004, after which he became Vice President of Production, as he had been barred by the SEC from serving as an officer or director of a publicly traded company. Brant ultimately resigned from the company in October 2006, following a four-month disability leave due to a bad back. A separate investigation by the SEC found further issues with Brant and two other executives of the company in 2007. In an industry-wide sweep against options backdating (receiving shares when they are priced high but backdating their ownership to when they were priced low), the SEC had found Brant had received backdating options of over 2.1 million shares, though he had excised all options upon his 2006 resignation.
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This all but eliminated the opportunity for senior management to engage any meaningful options backdating. Therefore, any criminal prosecution is likely to be based on option grants made before Sarbanes-Oxley took effect, and the deadline facing the government for bringing those prosecutions has already passed. As of 17 November 2006, backdating has been identified at more than 130 companies, and led to the firing or resignation of more than 50 top executives and directors of those companies. Notable companies embroiled in the scandal include Broadcom Corp.
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Erik Lie is a Norwegian finance professor at the University of Iowa who published a report about options backdating that led to many investigations by the SEC into the potentially illegal practice. He was the subject of profile in Business Week for his contribution to uncovering options backdating scandals. In 1991–92 he served in the Royal Norwegian Navy and Norwegian Coast Guard. In 2007, he was listed as one of the Time 100, with the article on his contributions being written by former New York Governor and New York State Attorney General Eliot Spitzer.
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Mr. Reich said in a letter to the inspector general that he agreed with the agency's filings. On 27 February 2009, Mr. Reich stepped down amidst the continuing audit of backdating at IndyMac and four other institutions. Scott Polakoff, OTS senior deputy director and chief operating officer, hired under Mr. Reich, became acting director on his departure. On 26 March 2009, Polakoff was removed and placed on leave by United States Secretary of the Treasury Timothy Geithner, amidst an announced further review and investigation of the backdating scandal by the U.S. Treasury's Inspector General.
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The Court distinguished the decision from the earlier franchise fee cases (Dennis Hotels Pty Ltd v Victoria,. and Dickenson's Arcade Pty Ltd v Tasmania .) because the period of backdating (two months instead of six) and the backdating mechanism were sufficiently different. Ha also featured a strong dissent, with the minority of the Court (Dawson, Toohey and Gaudron JJ) adopting the traditional narrow view of an excise. They rejected the Parton v Milk Board (Vic) excise definition.. The minority saw an excise as specifically a tax on the local manufacture or production of goods.
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Take-Two completed a settlement related to class-action lawsuits filed against it in 2005 over the Hot Coffee mod, as well as to a class-action lawsuit brought by shareholders over the options backdating fraud, in September 2009.
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Such backdating may be construed as illegally avoiding income recognition because falsely under-reporting the market price of such stocks makes them appear to have no value in excess of the strike price at the time the option is granted.
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In the mid-aughts, the backdating of stock options was looked into by federal regulators. Options backdating, changing the date of an options issue, to an earlier time when the share price was lower, has been disparaged as a way of "rewarding managers when stock prices fall." An option granted on June 1 when a stock shares price was $100, but backdated to May 15, when shares were only $80, for example, gives the option holder $20/share more profit. In mid-2006, CNN Money reported "more than 80 companies" had disclosed investigations of one kind or another into "options mispricing situations".
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Another view of a Comverse building in Tel Aviv, from 2006 In 2006, Comverse Technology was involved in an options backdating scandal. In May of that year, company founder and CEO Jacob Alexander stepped down from his position. Alexander, finance chief David Kreinberg, and former senior general counsel William Sorin (both of whom had also stepped down) were charged in July 2006 in the United States District Court for the Eastern District of New York with multiple counts of conspiracy, fraud, money laundering and making false filings to the Securities and Exchange Commission (SEC), all related to alleged options backdating or other actions related to stock options between 1998 and 2006. The accusations against the three included the backdating of options to when Comverse stock had been trading at low prices, the use of fake names of option holders, and the creation of secret funds in which to hold the illicit gains.
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He was suspended for two years which, with backdating, ended in December 2016; as a result, he served approximately fifteen months of his suspension and missed the entire 2016 season, when he had intended to play and coach for Rumbalara Football Club.
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On February 5, 2009, several executives and directors of Research In Motion agreed to pay the penalties to settle an investigation into the backdating of stock options. The Ontario Securities Commission approved the arrangement in a closed-door meeting. Under the terms of a settlement agreement with the OSC, RIM co-chief executive officers Jim Balsillie and Mike Lazaridis, as well as chief operating officer Dennis Kavelman, will jointly pay a total of C$68-million to RIM to reimburse the company for losses from the backdating and for the costs of a long internal investigation. The three are also required to pay C$9-million to the OSC.
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National Criminal Defense Bar Assn. Files Amicus Brief in Appeal of First Stock Options Backdating Conviction, NACDL Press release, September 12, 2008. The NACDL also made a copy of the amicus brief available online. Reyes was represented in the appeal by former U.S. Solicitor General Seth Waxman.
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The promised backdating was not mentioned in the initial announcement, resulting in great dissatisfaction amongst the sailors. A later announcement clarified that the backdating would occur, but it is unclear whether doing so was originally intended, or added in response to the mutiny. On a related front, many of the sailors who had signed up for long periods during the war were finding themselves dissatisfied with peacetime duties and conditions.National Museum of the Royal New Zealand Navy, 1947 Mutiny Some attempted to secure a discharge as they thought there would be better opportunities and pay in civilian jobs, but demobilisation efforts were focused on the personnel who had signed up under "Hostilities Only" conditions.
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Without admitting or denying the SEC's allegations, Mercury Interactive agreed to pay a $28 million civil penalty to settle the Commission's charges in 2007.Securities and Exchange Commission. “SEC Settles With Mercury Interactive and Sues Former Mercury Officers for Stock Option Backdating and Other Fraudulent Conduct.” Retrieved 2010-02-25.
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On June 21, 2006, after an investigation by the U.S. Securities and Exchange Commission, the company restated its financial results from 1996 to 2005 to correct accounting errors related to options backdating. The chief financial officer of the company resigned. Altera filed a petition to overturn related regulations but was denied in 2020.
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McAfee Inc. named Fuller interim president and CEO in January 2006. Fuller took over from George Samenuk and Kevin Weiss following an internal probe into options backdating practices from the company’s initial public offering in 1996 through 2003. Fuller held that position until July 2007. In 2008, Fuller became MokaFive’s president and CEO.
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Karl Theodor Lauter: Weißenoher Urkundenfälschungen. In: Archivalische Zeitschrift 39, 1930, pp. 226-259Alberti 2009, pp. 12-13 In spite of the deliberate backdating of the Weißenohe estates in these two examples, it may be assumed that the expansion of Hiltpoltstein Castle as a likely vogt seat occurred at the same time as the abbey was founded.
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Brocade's Reyes gets 21 months in backdating case, Stephen Lawson, IDG News Service, January 17, 2008 (via www.infoworld.com, retrieved Dec. 5, 2008) U.S. District Judge Charles R. Breyer, the sentencing judge, refused to grant the defense request for a sentence of no more than 13 months, to be served in a halfway house rather than prison.
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Karatz was succeeded by Jeffrey T. Mezger as CEO.KB Home CEO resigns after backdating probe - MarketWatch The company was named "Most Admired Homebuilder" by Fortune in 2006, 2008, 2009, and 2011. KB Home was ranked #1 Overall Green Builder by Calvert Investments in 2010. In fiscal 2012, the company delivered 6,282 homes in the United States and had revenue of over $1.5 billion.
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Research analysts began speculating that the company might break up. Because of the accounting issues from the option backdating, Comverse Technology was unable to file full or timely financial reports with the SEC. Its stock was delisted from the Nasdaq Stock Market on 1 February 2007, and removed from the S&P; 500 and NASDAQ-100 at the same time.
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On 15 June 2006, Chief Justice Daniel Fatiaki, as president of the Supreme Court, reduced Vakalalabure's prison sentence from six years to four and backdating it by four months, finding that others convicted with him had received lesser sentences. He was released on 6 July 2006 and served the remaining five months of his sentence on community work with a Christian organisation in Suva.
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In December 2011, 204(h) notification had still not been provided and the tipster made a complaint to the U.S. Department of Labor. In January 2012, Anusara, Inc. finally provided official notification, but attempted to backdate the notification, as well as the effective freeze date, to January 1, 2010. In response to this complaint about the backdating, the Department of Labor advised Anusara, Inc.
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The Act included a provision to prohibit the backdating of a lease. The term of years counted from the date of lease signing. The 1961 Act increased the percentage addition to the rent for the net cost of improvement works carried out after 24 November 1961, from eight per cent (as it had been in the Rent Act 1957) to twelve and one half per cent.
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Meade Instruments, Star Instruments and RC Optical Systems Agree to Settlement: Financial News – Yahoo! Finance On September 27, 2006, Finkelstein, Thompson & Loughran filed a class action lawsuit against Meade. The complaint alleged that, throughout the Class Period, defendants misrepresented and omitted material facts concerning Meade's backdating of stock option grants to two of its officers. A settlement of $2,950,000 was reached in December, 2007.
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Many companies' stock option plans provide that stock options must be granted at an exercise price no lower than fair market value on the date of the option grant. If a company grants options on June 1 (when the stock price is $100), but backdates the options to May 15 (when the price was $80) in order to make the option grants more favorable to the grantees, the fact remains that the grants were actually made on June 1, and if the exercise price of the granted options is $80, not $100, it is below fair market value. Thus, backdating can be misleading to shareholders in the sense that it results in option grants that are more favorable than the shareholders approved in adopting the stock option plan. The other major way that backdating can be misleading to investors relates to the method by which the company accounts for the options.
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Reyes's trial began on June 18, 2007, making it the first criminal trial in which a backdating prosecution was considered before a jury. In the trial, Reyes stated that he had no intent to deceive anyone, and that his decisions relied largely in good faith on the accuracy of documentation provided by Brocade's finance department, which incorrectly accounted for stock options in Brocade's financial statements that he signed in good faith and with the belief that they had been properly accounted for. Elizabeth Moore, a key witness to Reyes's conviction and the only employee of Brocade's finance department to be called during the proceedings, testified that neither she nor any other members of the finance department had any knowledge of backdating or fraudulent occurrences within the organization. After the trial's conclusion, however, Moore recanted her testimony, claiming that she had been bullied and pressured by the prosecution to give false testimony.
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In Roman usage, the word superstitio refers to any excessive religious devotion, within or outside traditional Roman religious practice. To Suetonius this particular excessive devotion was new and mischievous. This may have been the case in Suetonius' time, but Marius Heemstra thinks he was backdating the accusation to the time of Nero.Marius Heemstra, The Fiscus Judaicus and the Parting of the Ways (Mohr Siebeck GmbH & Company 2010) , p.89.
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He and his team-mates were initially found not guilty in March 2015 by the AFL Anti- Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 suburban football season.
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D Transcript: Gates, Jobs Reminisce, The Wall Street Journal In October 2007 Lyons released the book Options: The Secret Life of Steve Jobs, a Parody, under the pseudonym "Fake Steve Jobs". Although based largely upon previous material published on The Secret Diary of Steve Jobs blog, the book creates a more cohesive narrative focusing especially on the stock options backdating scandal looming over Steve Jobs in late 2006 and early 2007.
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Declining revenues and staff led the OTS to market itself to companies as a lax regulator in order to get revenue. The OTS also expanded its oversight to companies that were not banks. Some of the companies that failed under OTS supervision during the financial crisis of 2007–2010 include American International Group (AIG), Washington Mutual, and IndyMac. The OTS was implicated in a backdating scandal regarding the balance sheet of IndyMac.
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He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 AFL season. With the retirements of Jobe Watson and Brent Stanton at the end of the 2017 AFL season, Hocking was the last player remaining on the Essendon playing list to be coached by Kevin Sheedy until he was delisted in September 2017.
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On October 10, 2006, Shelby Bonnie resigned as chairman and CEO, in addition to two other executives, as a result of a stock options backdating scandal that occurred between 1996 and 2003. This would also cause the firm to restate its financial earnings over 1996 to 2003 for over $105 million in resulting expenses. The Securities and Exchange Commission later dropped an investigation into the practice. Neil Ashe was named as the new CEO.
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From October 2007 to October 2008, Maxim's common stock was delisted from the Nasdaq Stock Exchange due to the company's inability to file financial statements related to stock option backdating. Maxim's stock was traded over-the-counter and quoted on the Pink Sheets until the company completed its restatement in 2008. Maxim's CFO Carl Jasper resigned due to an investigation into the issue by Maxim's board of directors."Maxim CFO Resigns amid Options Probe", CFO Accessed January 12, 2009.
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In Toronto, Malavalli worked for Canstar Communications’ fibre channel group, which was later acquired by Hewlett-Packard. While at Hewlett-Packard, he served on American National Standards Institute's T11 Technical Committee, which established universal standards for fibre channel. Malavalli co-founded Brocade Communications, a producer of storage area networks, with Paul Bonderson, Jr. in 1995. Brocade launched in 1998 and went public in May 1999, and its CEO was convicted for illegal backdating of options in January 2008.
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In 2005, law professor Erik Lie published a report into the options backdating involving changing the strike price and date of an option after issue, which led to over 100 SEC and DOJ investigations, resulting in 12 criminal sentences. As of 2014, stock options including ISOs are no longer the most common form of long-term equity incentive rewards for executives, with about half given as performance shares, a quarter as RSUs, and a quarter as stock options.
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However, this second efferent trigger also communicates to the brain that a period of time has been missing from perception. To fill this gap in perception, visual information is processed in a manner known as neural antedating or backdating. In this visual processing, the gap in perception is “filled in” with information gathered after the saccade. For the student, the gap of time that occurred during the saccade is substituted with the processed image of the clock.
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In October 2010, Williams signed with the Cronulla-Sutherland Sharks for the 2011 NRL season. In 2012, he announced his retirement at the age of 27. Following his retirement, he was one of seventeen Cronulla players found guilty of using illegal substances under the club's 2011 supplements program, having a twelve-month suspension (which had already expired due to backdating) recorded against his name. Williams was considered to be a rugby league journeymen, joining four clubs over his eight-year career.
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He and his teammates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 VFL season and was forced to stand down from his role as player welfare manager.
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In February 1976, Khieu Samphan took him on a tour across the Cambodian countryside. Sihanouk was shocked to see the use of forced labour and population displacement carried out by the Khmer Rouge government, known as the Angkar. Following the tour, Sihanouk decided to resign as the Head of State.Osborne (1994), p. 232. The Angkar initially rejected his resignation request, though they subsequently accepted it in mid-April 1976, retroactively backdating it to 2 April 1976.Osborne (1994), p. 233.
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It was one of Israel's largest employers of software engineers, was closely followed in the nation's business press, and was the first Israeli-associated company to join the S&P; 500 index. In 2006, Comverse was involved in an options backdating scandal. Alexander and two other top executives were charged in the US with multiple counts of conspiracy, fraud, money laundering and making false filings. Alexander fled the country to Namibia where he engaged in a prolonged fight against extradition.
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In 2011, the company was accused of option backdating; it eventually reached a $4 million settlement. In 2015–2016, it experienced significant losses of $104 million and $150 million; in the 2009 to 2016 period, it closed down 200 rigs. In August 2018, Ensign made a C$470 million hostile takeover offer for Trinidad Drilling. On November 27, 2018, Ensign announced the successful acquisition of a total of 66.73 per cent of the outstanding common shares of Trinidad Drilling Ltd.
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On November 16, 2011, longtime Madoff trader David Kugel pleaded guilty to backdating trades for Madoff. Kugel joined the firm in 1970, eventually becoming a supervisor with Madoff's legitimate proprietary trading operation. In his allocution, he admitted creating bogus trading records as early as the 1970s–further undermining Madoff's claim that he only began his fraud in 1991. He made greater than $10 million in profits from investments with Madoff, and his salary was as high as $588,000 a year.
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Between 1919 and 1930, Kirkman, having obtained a Regular Army commission in 1915, and unlike many others, remained in the army and served throughout the British Empire in Palestine, Malta and India during the interwar years. He was promoted to captain on 1 January 1925 (with seniority backdating to 3 November 1917). On 21 October 1930 Kirkman relinquished his appointment as staff captain with Malta Command and returned to England. Between 1931 and 1932 he attended the Staff College, Camberley.
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Flanagan signed a 1-year deal with the Cronulla Sharks for 2010. Flanagan re-signed with the Sharks for a further year taking him to the end of the 2011 season. Following his retirement, he was one of seventeen Sharks players found guilty of using illegal substances under the club's 2011 supplements program, having a twelve-month suspension (which had already expired due to backdating) recorded against his name. After suspensions, Flanagan played for the Appin Dogs in the Group 8 competition.
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The dating of neutrality to 1516 is disputed by modern historians. Prior to 1895, no historian referenced the Battle of Marignano as the beginning of neutrality. The later backdating has to be seen in light of threats by several major powers in 1889 to rescind the neutrality granted to Switzerland in 1815. A publication by Paul Schweizer, titled Geschichte der schweizerischen Neutralität attempted to show that Swiss neutrality wasn't granted by other nations, but a decision they took themselves and thus couldn't be rescinded by others.
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On June 23, 2008, Samueli pleaded guilty for lying to SEC for $2.2 billion of backdating. Under the plea bargain, Samueli agreed to a sentence of five years probation, a $250,000 criminal fine, and a $12 million payment to the US Treasury. Prosecutors focused on the fact that Samueli denied under oath any role in making options grants to high-ranking executives. As part of his plea agreement, Samueli admitted the statement was false, and admitting to being part of the options-granting process.
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During 2006 and 2007, securities fraud class actions were driven by market wide events, such as the 2006 backdating scandal and the 2007 subprime crisis. Securities fraud lawsuits remained below historical averages. Some manifestations of this white collar crime have become more frequent as the Internet gives criminals greater access to prey. The trading volume in the United States securities and commodities markets, having grown dramatically in the 1990s, has led to an increase in fraud and misconduct by investors, executives, shareholders, and other market participants.
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He and his team-mates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 season, during which time he had intended to coach Nuriootpa Rovers Football Club in the Barossa Light & Gawler Football League.
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In 2008, the company and its then chief operating officer–and the only member of its stock option "committee" during the period in question – Weili Dai paid fines, to the Securities and Exchange Commission over charges of false financial information to investors by improperly backdating stock option grants to employees, totaling $10 million and $500,000 respectively. Dai was forced to step down as executive vice president, chief operating officer, and a director but allowed to continue with the company in a non-management position.
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Breyer presided over the Ed Rosenthal trial in 2007, in Rosenthal's federal prosecution for distribution of marijuana for medical use. He also presided over the stock-options backdating trial of Brocade Communications Systems CEO Gregory Reyes in 2007. In 2014, he ruled against the City of San Francisco's legislation to protect tenants from Ellis Act evictions. He presided over the 2014 criminal case involving San Francisco police theft and racist texting, in which his court order was blamed for the delay in releasing information.
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The Canadian government duly requested and gave its consent, via an Order in Council of the Privy Council of Canada. Australia, South Africa, and New Zealand did likewise. Edward as King-in- Council then issued an Order in his British Privy Council to authorize the inclusion of the Dominions in the Abdication Act.King Edward renounces the throne, The Guardian, December 1936 The South African parliament later passed His Majesty King Edward the Eighth's Abdication Act, 1937, backdating George VI's accession in South Africa to December 10, 1936.
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He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 AFL season, including the Bulldogs' premiership win in September. Crameri played just two matches in 2017, before undergoing hip surgery which would ultimately sideline him for the remainder of the season. Crameri was delisted by the Bulldogs at the conclusion of the 2017 AFL season, but was taken by the Geelong Cats in the 2017 rookie draft.
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He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 AFL season. The suspension lead to speculation that Myers would exercise his rights as an unrestricted free agent and leave Essendon, but during the year he signed a three-year contract to remain with Essendon until the end of the 2019 season. Myers announced his retirement at the end of the 2019 season with an open letter to the fans.
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In November 2006, KB Home president, CEO, and chairman Bruce Karatz resigned after an internal accounting probe into his alleged backdating of stock options. KB Home also announced the resignation of its head of human resources, Gary A. Ray, and the resignation of its chief legal officer, Richard B. Hirst. The company determined that Karatz and Ray had picked grant dates under the company's stock option plans. According to the Wall Street Journal, Karatz was one of the most highly paid executives in 2005, earning almost $156 million, primarily from options.
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Paul Grüninger presumably in 1939 Paul Grüninger (27 October 1891 - 22 February 1972) was a Swiss police commander in St. Gallen. He was recognized as one of the Righteous Among the Nations by the Yad Vashem Holocaust memorial foundation in 1971. Following the Austrian Anschluss, Grüninger saved about 3,600 Jewish refugees by backdating their visas and falsifying other documents to indicate that they had entered Switzerland at a time when legal entry of refugees was still possible. He was dismissed from the police force, convicted of official misconduct, and fined 300 Swiss francs.
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Robbins Geller Rudman & Dowd LLP (“Robbins Geller”) is an American limited liability partnership, governed by a six-member Executive Committee, with a total of 200 attorneys. Founding attorneys are Darren J. Robbins, Paul J. Geller, Samuel H. Rudman, and Michael J. Dowd. Robbins Geller practices law related to securities fraud, corporate governance, shareholder derivative litigation, options backdating litigation, corporate takeover litigation, insurance, antitrust, consumer fraud, human rights, environment and public health, and intellectual property.[5] In 2010, the previous firm Coughlin Stoia Geller Rudman and Robbins ceased and Robbins Geller was formed.
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Pinchot went public with his differences with Ballinger's approach and his office delivered another report to the Senator Dolliver, Republican chair of the Committee on Agriculture and Forestry. This prompted Taft to fire Pinchot as well, while Roosevelt was in Africa. During the special committee's hearings, both Glavis and Pinchot testified, and testimony about the backdating by a stenographer prompted Taft to take responsibility for ordering it, though that stenographer and other employees were also fired. Brandeis' questioning made Ballinger's anti-conservationism clear, but did not unearth anything so serious as to warrant criminal charges.
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Aiton signed a 2-year deal with Cronulla in 2010 and went on to make 36 appearances, scoring 5 tries. At the end of the 2011 season it was announced he was to leave Cronulla to go play in the Super League. Following his departure, he was one of seventeen Sharks players found guilty of using illegal substances under the club's 2011 supplements program. When the case was eventually concluded in 2016, Aiton had a twelve-month suspension recorded against his name, although he served none of the time due to backdating of the sanction.
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The case came to light in December 2000 as the result of an investigation by The Washington Post, and sparked significant public outcry. The most serious error was the falsification and backdating of an ethics approval letter by the lead investigator of the trial, Dr. Abdulhamid Isa Dutse. Dr. Dutse is now the chief medical officer of Aminu Kano Teaching Hospital. The result of the trial was that children treated with oral trovafloxacin had a 5% (5/100) mortality rate compared to a 6% (6/100) mortality rate with intramuscular ceftriaxone.
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Subsequently, Watkins contacted Kelly and asked if he would sign a letter, backdated to 28 February 2011, that would authorise Watkins to purchase the Currawong property. The effect of the backdating of the letter was to convey that prior authority had been given by the NSW Premier Kristina Keneally on 25 February 2011, in her letter to Minister Kelly. Watkins claimed the letter to Kelly dated 25 February 2011 from Premier Keneally authorised the purchase of the site, and he acted on the direction of Minister Kelly's letter dated 28 February 2011.
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However, if the exercise price is below the market price so that the options are in the money, then the compensation will not be performance based, as the options would have intrinsic value immediately. (See page 5 of the background briefing). As an economic and practical matter, backdating and cherry-picking dates with the lowest market price of the underlying stock may be evidence that the options granted were not reasonable compensation, because the grant of the options would not be performance based. In such a case, tax deductions would be denied.
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Reyes's second backdating trial (or retrial) commenced on February 22, 2010, in U.S. District Judge Charles Breyer's court room. Reyes was charged with 1 count of falsifying books and records, 4 counts of lying to auditors, 4 counts of security fraud, and 1 count of conspiracy. On March 26, 2010, the jury found Reyes guilty on 9 charges and was acquitted on the conspiracy charge. Reyes's attorney stated that Reyes will likely file another appeal. On June 24, 2010, Reyes was sentenced to 18 months' incarceration and a $15 million fine.
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Superior Ct., Santa Clara County, filed May 15, 2007. stemming from the backdating, including one federal suit filed by the U.S. Securities and Exchange Commission, which he settled in August 2011 for $845,000. Reyes settled one of the other suits, a derivative suit brought by Brocade shareholders on behalf of the company, in June 2009, for a reported $12.5 million. After Reyes was released from prison, and after his probation had ended, he attempted to purchase a handgun, and was denied when the background check revealed that he was a convicted felon.
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He and his team-mates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 AFL season. On 10 August 2016 Stanton re-committed to the Bombers on a one-year deal. Early in the 2017 season, Stanton played his 250th AFL game against the Brisbane Lions at the Gabba.
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The Supreme Court Database is an NSF-funded collaboration among six universities. The project’s inception occurred decades ago as Professor Harold J. Spaeth (Michigan State University) attempted to document and code every vote put forth by a U.S. Supreme Court justice in all argued cases over a five-decade span. Professor Spaeth's work has become an indispensable body of information for those who study supreme court politics. Professor Martin and CERL’s participation involved overseeing the expansion, including developing a comprehensive dataset as well as facilitating a backdating project that classified data from the founding of the court in 1790 through the current term.
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Beginning with a stock options backdating scandal in 2006, parent company Comverse Technology suffered a series of financial reporting problems, losses and layoffs, with one consequence that both Comverse and Verint were delisted from the NASDAQ stock market in 2007 and ended up on the Pink Sheets. In July 2010, Verint was relisted on the NASDAQ stock market under the symbol VRNT. By that year, there was considerable talk that Comverse Technology would sell its remaining interest in Verint, with some private equity firms mentioned as possible buyers. In September 2011, Verint acquired Global Management Technologies Corporation, paying around $25 million for it.
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Critics of stock options charge that they are granted without justification as there is little reason to align the interests of CEOs with those of shareholders. Empirical evidence shows since the wide use of stock options, executive pay relative to workers has dramatically risen. Moreover, executive stock options contributed to the accounting manipulation scandals of the late 1990s and abuses such as the options backdating of such grants. Finally, researchers have shown that relationships between executive stock options and stock buybacks, implying that executives use corporate resources to inflate stock prices before they exercise their options.
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Howlett, along with 33 other Essendon players, was found guilty of using a banned performance-enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his teammates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for one season which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 AFL season. Howlett was delisted at the conclusion of the 2017 AFL season.
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During the technology boom in the 2000s, Samueli and Broadcom co-founder Henry T. Nicholas III awarded millions of stock options to attract and reward employees. Prosecutors alleged Samueli and Nicholas granted options to others, including some other top executives, but not themselves, to avoid having to report $2.2 billion in compensation costs to shareholders. In 2006 both the Securities and Exchange Commission and the Department of Justice began investigating Broadcom Corporation for backdating of stock options. On May 15, 2008, Samueli resigned as Chairman of the Board and took a leave of absence as Chief Technology Officer after being named in a civil complaint by the SEC.
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Apple's former CFO Fred D. Anderson had already reached a $3.5 million settlement with the SEC in 2007, without admitting or denying its allegations regarding the stock-option backdating at the technology company. The SEC settlement also barred Heinen from serving as a public company officer or director for five years and barred her from practicing before the SEC for three years. Heinen's settlement ended the civil suit filed in California federal court by the SEC in April 2007 that would otherwise have gone to trial in 2009. A two-year criminal investigation into the matter by the U.S. Justice Department was closed without criminal charges being filed.
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He was released on bail and engaged in a long battle to avoid extradition to the US (in Namibia neither money laundering nor options backdating is a crime). Upon leaving the US he had transferred some $64 million to Israel, with most of that ending up in Namibia; another $50 million was blocked by the US government, which overall sought the forfeiture of $138 million of Alexander's assets.Sarna and Malik, History of Greed, p. 327. In April 2010, Alexander won a victory in the Supreme Court of Namibia that allowed him to continue to live and work there until the extradition request was ruled upon.
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Why options backdating is a big deal By Adam Lashinsky, 26 July 2006 The SEC listed about 60 "enforcement actions related to options" from 2001 to 2010. One of the largest stock option grants to an executive, and perhaps the largest involved repricing stock options, was $1.6 billion worth of options granted to the CEO of UnitedHealth Group, William W. McGuire. McGuire later returned $618 million as part of settlements reached with the SEC and UnitedHealth shareholders, paid a $7 million fine to the SEC, and was barred from serving as a director of a public company for ten years.Former Chief Will Forfeit $418 Million By Eric Dash, nytimes.
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According to a source with knowledge of the incident, at another point Mr. Dochow limited the scope of a review by OTS regulators of IndyMac's portfolio of loans and other assets, overruling the advice of others in the agency. Mr. Dochow played a central role in the savings-and-loan scandal of the 1980s, overriding a recommendation by federal bank examiners in San Francisco to seize Lincoln Savings, the giant savings and loan owned by Charles Keating. Mr. Reich called the backdating irregularity "a relatively small factor" in the collapse of IndyMac. On 12 February 2009, Mr. Reich resigned, announcing he would step down 27 February.
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When President Clinton signed the bill into law, the Lyttons gained the right to turn the CSP, formerly a low-stakes cardroom, into a full-fledged casino with much more profitable gambling devices and games such as slot machines and blackjack. Miller's backdating clause, in a section labeled "technical corrections," has been described as "midnight legislation" and "underhanded". Professor I. Nelson Rose, a gambling law expert from Whittier College, said the bill "bordered on illegal". Others dispute that the language was added inappropriately; a former staffer for U.S. Senator Daniel Inouye described the process as nothing out of the ordinary, saying, "That's the way the republic works".
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The U.S. Department of Justice in 2010 ended a lengthy investigation of Armstrong Teasdale client Alphonso Jackson, who served as Housing and Urban Development Secretary during the Bush Administration. The government ended the probe without bringing charges. In a 2010 ruling that affected stock option backdating cases across the country, a federal judge dismissed Securities and Exchange Commission allegations against Armstrong Teasdale client Michael F. Shanahan Jr., a former director of Engineered Support Systems and the son of its co-founder and former CEO. Armstrong Teasdale represented Missouri state liquidators who sued investment banks, accountants and lawyers for allegedly causing the collapse of General American Insurance, the state's largest insurer.
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Gordon had supposedly created characters under the name "Kung Fu Panda Power" and registered them with the U.S. Copyright Office in 2000. He had allegedly pitched this concept work to Disney while Jeffrey Katzenberg, who later left Disney and formed DreamWorks Animation in 1994, was working there. Gordon withdrew his claim just before the trial was due to take place. On December 20, 2015, federal prosecutors charged Gordon with four counts of wire fraud and three counts of perjury for allegedly fabricating and backdating drawings to support the claims in his lawsuit, and for allegedly tracing some of his drawings from a Disney Lion King coloring book.
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Davey, along with 33 other Essendon players, was found guilty of using a banned performance enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his team-mates were initially found not guilty in March 2015 by the AFL Anti- Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in December 2017; as a result, he served approximately seventeen months of his suspension and missed the 2016 winter season and parts of the 2015-16 and 2016-17 summer seasons.
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His father, Murray Browne, played for and in the 1980s and his mother was a cheerleader for . Browne, along with 33 other Essendon players, was found guilty of using a banned performance- enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his teammates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension.
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He has led investigations of market timing, stock options backdating, financial fraud, insider trading, and investment advisor and hedge fund fraud. His trials include a stint as a Special Assistant United States Attorney in the District of Massachusetts in a successful perjury trial against a former general counsel of a public company and a three-week market manipulation trial against three former brokers. In 2007 and 2008, Pomfret won the Division Director’s Award. Pomfret was a member of the SEC's Hedge Fund Working Group and was appointed the first co-chair of an affinity group for GLBT employees and helped inaugurate the SEC’s first gay pride celebration in 2008.
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Bellchambers, along with 33 other Essendon players, was found guilty of using a banned performance enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his team-mates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 AFL season. He announced his retirement on the 15th of September, 2020, after 136 games.
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Hooker is noted for his marking ability and took in excess of 150 marks in each of 2013, 2014 and 2015. Hooker, along with 33 other Essendon players, was found guilty of using a banned performance-enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his teammates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 AFL season.
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Monfries, along with 33 other past and present Essendon players, was found guilty of using a banned performance-enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his teammates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 AFL season. At the conclusion of the 2017 season, he announced his retirement from AFL football.
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Hardingham, along with 33 other Essendon players, was found guilty of using a banned performance-enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his teammates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 season. Following his suspension, Hardingham signed as a playing coach at Pascoe Vale in the Essendon District Football League (EDFL).
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The SEC settled charges against Sharlene Abrams in March 2009. Abrams agreed to pay $2,287,914 in disgorgement, of which $1,498,822 represented the "in-the-money" benefit from her exercise of backdated option grants, and a $425,000 civil penalty.U.S. Securities and Exchange Commission. “Sharlene Abrams, Former Chief Financial Officer of Mercury Interactive, LLC, to be Permanently Enjoined and to Pay Civil Penalties and Disgorgement for Stock Option Backdating and Other Fraudulent Conduct; Abrams Also to be Barred from Serving as an Officer and Director of a Public Company.” In September 2009, a federal judge dismissed all charges brought by the SEC against Susan Skaer, who now goes by the name Susan Skaer Tanner.
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He and his team-mates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 AFL season. In February 2017, Heppell was announced as Essendon's new captain, taking over from Brendon Goddard. In December 2019, Heppell (who was already contracted until 2020) signed a two-year contract extension with Essendon, keeping him at the club until 2022, and retained the captaincy for a fourth season.
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He played his first game of the year against in round 13, but saw his season further stifled with injury after breaking his lower leg and then straining his hamstring in the elimination final. Injury continued to force him to sit on the sidelines in the years after, managing 23 games in the next four seasons. Then on 12 January 2016 Pears was named as one of 34 past and present Essendon players found guilty over their use of illegal supplements during the 2012 AFL season. As a result, Pears was suspended for two years, which, as a result of backdating, saw him suspended between January and November 2016, which meant he missed the entire 2016 AFL season.
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On 28 February, a year after being made an acting major-general, Morgan's rank of major-general was made temporary. He was not to remain with the division for long, however, as on 14 May Morgan was promoted to the acting rank of lieutenant general and took command of I Corps District from Lieutenant-General Henry Willcox, which had responsibility for the defence of Lincolnshire and the East Riding of Yorkshire. In October of that year his headquarters became a mobile formation, was redesignated I Corps and placed under his American superior, Lieutenant General Dwight D. Eisenhower. On 12 November Morgan's permanent rank was advanced from colonel to major-general (with seniority backdating to 13 November 1941).
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Colin Best signs for the Rabbitohs In the 2009 State of Origin series Best was named in the 40 man New South Wales preliminary squad but ultimately was not selected for any of the games. He signed for the Cronulla-Sutherland Sharks for two seasons starting in 2011. At the end of the two seasons, Best announced his retirement, after a 15-year career, playing his final game in a finals lost against former club Canberra. Following his retirement, he was one of seventeen Cronulla players found guilty of using illegal substances under the club's 2011 supplements program, having a twelve-month suspension (which had already expired due to backdating) recorded against his name.
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Willey p 122 Since both interpretations are possible, this ambiguity would allow the issuer from escaping being cited for sedition.Willey p 123 Despite the date of 1811 (or for one unique version, 1810), appearing on its reverse, it has long been thought to have been issued sometime in the 1830s, the backdating serving as a way to circumvent regulations against importing contemporary tokens.Cross p 204 At least three main varieties are known,Willey p 123 though additional die variations are known to exist. Recent numismatic scholarship has questioned the long-standing assumption that the tokens were issued in the 1830s, and may have in fact been issued closer to the date that appears on them.
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Early on, the Superboy feature became a platform for backdating first meetings between Superman and members of his supporting cast, nearly always contradicting previously established continuity. Thus, Superboy first meets Perry White in a 1947 story (Adventure Comics #120), and in the following year, meets Lois Lane (Adventure Comics #128), years after the adult Clark Kent had first met his fellow Daily Planet staffers in Superman stories. In a similar vein, Kal-El later meets toddler Jimmy Olsen (Adventure Comics #216, 1955) while still Superboy, as well as meeting a time traveling teenage Jimmy Olsen (Superboy #55, 1957). Superman's first meetings with a number of his fellow superheroes were also backdated to his adolescence.
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A report by the UK Energy Research Centre noted that "discovery" is often used ambiguously, and explained the seeming contradiction between falling discovery rates since the 1960s and increasing reserves by the phenomenon of reserve growth. The report noted that increased reserves within a field may be discovered or developed by new technology years or decades after the original discovery. But because of the practice of "backdating", any new reserves within a field, even those to be discovered decades after the field discovery, are attributed to the year of initial field discovery, creating an illusion that discovery is not keeping pace with production.Steve Sorrell and others, Global Oil Depletion, UK Energy Research Centre, , p. 24–25.
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Major shareholders have filed lawsuits accusing former New Jersey governor Thomas Kean and UHC's other directors of failing in their fiduciary duty. On October 15, 2006, CEO William W. McGuire was forced to resign, and relinquish hundreds of millions of dollars in stock options. On December 6, 2007, the SEC announced a settlement under which McGuire will repay $468 million, as a partial settlement of the backdating prosecution. In June 2006, the American Chiropractic Association filed a national class-action lawsuit against the American Chiropractic Network (ACN), which is owned by UnitedHealth Group and administers chiropractic benefits, and against UnitedHealth Group itself, for alleged practices in violation of the federal Racketeer Influenced and Corrupt Organizations Act (RICO).
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Sam's original junior club - Tamar Cats - were based near his home town of Beauty Point. Lonergan, along with 33 other Essendon players, was found guilty of using a banned performance-enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his teammates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 TSL season.
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Academic researchers had long been aware of the pattern, exhibited by some companies, of share prices rising dramatically in the days following grants of stock options to senior management. However, in late 2005 and early 2006, the issue of stock options backdating gained a wider audience. Numerous financial analysts replicated and expanded upon the prior academic research, developing lists of companies whose stock price performance immediately after options grants to senior management (the purported dates of which can be ascertained by inspecting a company's Form 4 filings, generally available online at the SEC's website) was suspicious. For instance, public companies generally grant stock options in accordance with a formal stock option plan approved by shareholders at an annual meeting.
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Until very recently, a company that granted stock options to executives at fair market value did not have to recognize the cost of the options as a compensation expense. However, if the company granted options with an exercise price below fair market value, there would be a compensation expense that had to be recognized under applicable accounting rules. If a company backdated its stock options, but failed to recognize a compensation expense, then the company's accounting may not be correct, and its quarterly and annual financial reports to investors may be misleading. Although many companies have been identified as having problems with backdating, the severity of the problem, and the consequences, fall along a broad spectrum.
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Scottish Liberal Democrat Conference in late 2102 overwhelmingly supported the move to remove Accredited Landlord status from Landlords charging such fees, to implement mystery shopper checks on letting agencies to discover whether they charge illegal fees, and to allow backdating of claims for 10 years. The Scottish Government have since reaffirmed the illegality of these charges. Additionally, at the same Conference Liberal Youth Scotland moved a motion in support of the introduction of Container Deposit Legislation through 'Reverse Vending Machines', a return and deposit system to rapidly increase recycling. In response to the SNP Government's failure to meet climate change targets the Conference overwhelmingly backed the motion to introduce a proven system of recycling that has seen results of up to 90% across Europe.
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McGregor took over from an interim CEO as the company sought to refocus after the departure of its co-founder and former CEO Henry Nicholas, and soon a $2.24billion stock options backdating scandal. In contrast with Nicholas, observers reported in 2006 that employees found McGregor "even-keeled", and said McGregor "prides himself on his organization," although a 2011 interview called him both "amiable" and "brutally honest." During McGregor's tenure, Broadcom grew from $2.4billion to $8.6billion in revenue and became a Fortune 500 company; it first entered the list in 2009, and climbed to spot #327 in 2013. In a 2014 interview, McGregor commented on the semiconductor industry's scale: "It has never before been possible to get an order for 100 million of something," he said.
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The stock then traded on the Pink Sheets. In 2009, the SEC settled its case with Comverse Technology; the company would not be subject to penalty fines over the backdating matter, but would accept a permanent injunction against itself regarding any future violations of law regarding publicly traded companies. A settlement in a similar case against Ulticom was also reached. The failure to file timely financial reports put the company at risk of having its stock registration revoked; a process deciding this, involving the SEC and an Administrative Law Judge, was still active of 2011. The financial crisis of 2008 and on caused further difficulties for Comverse Technology, with new layoffs occurring in October 2008, March 2009, and August 2009.
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He is the second oldest player to play a VFL/AFL game, aged 40 years and 23 days at the time of his final game, behind only Vic Cumberland (who played the 1920 season aged 43). With his father, Ken, the Fletchers hold the record for the most VFL/AFL career games played by a father and son, with 664 games between them. On 12 January 2016, during the summer after his retirement, Fletcher was named as one of 34 past and present Essendon players found guilty over their use of illegal supplements during the 2012 AFL season. As a result, Fletcher was suspended from playing at all levels for 24 months, which with backdating and provisional suspension served resulted in suspension until November 2016.
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McKelvey left Monster Worldwide in 2006 after questions were raised regarding his involvement in the company's backdating of stock options. McKelvey repaid $8 million to the firm and gave up the majority of his voting shares, relinquishing his super-voting B shares and converting them into A shares, reducing his voting control in the firm from approximately 31% to 7%. He also made a payment of approximately $276,000 to the Securities and Exchange Commission, which acknowledged that he had not been a beneficiary of the backdated options. Federal authorities had begun the investigation after an article in The Wall Street Journal raised questions about what the paper called "a series of improbably well-timed stock-option grants to senior executives".
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In the final two months before IndyMac was placed into receivership, it was allowed to bring in at least $90 million in new uninsured deposits. The irregularity allowed by Mr. Dochow let IndyMac hide from publicity the fact that the threat to IndyMac's brokered deposits was not just a possible outcome but was a situation which had already begun—months before the disclosure of Senator Schumer's concerns about OTS and IndyMac. Investigators reported that similar officially approved backdating occurred at four other institutions. Mr. Dochow played a central role in the Savings and Loan crisis of the 1980s, overriding a recommendation by federal bank examiners in San Francisco to seize Lincoln Savings, the giant savings and loan owned by Charles Keating.
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Death and the Miser, on loan to the exhibition form the National Gallery of Art, DC Jheronimus Bosch—Visions of Genius (Dutch: ) was a 2016 art exhibition (13 February until 8 May 2016) at the Noordbrabants Museum in 's-Hertogenbosch, The Netherlands, about the work of Hieronymus Bosch, a native of 's-Hertogenbosch. Seventeen of the world's known Bosch paintings were on display in the exhibition, along with 19 drawings. The Telegraph described the work of curator Charles de Mooij in gathering them as "a feat of stamina and silver-tongued curatorial cunning." The exhibition presented Bosch as "a great realist" highlighting the realistically-painted detail in his surreal paintings, backdating the Renaissance in the process since Bosch painted half a century before Vasari published.
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Bucknall was promoted to brevet lieutenant colonel on 1 January 1936, and attended the Royal Naval College, Greenwich. From 13 March 1937until 12 April 1939 he served as an instructor at the Royal Military College of Canada, taking over from Gordon MacMillan, where he came into contact with some of the Canadian generals of the next war, such as Harry Crerar, the college Commandant, and E. L. M. Burns and Guy Simonds, both fellow instructors. He returned to the United Kingdom in 1939 and became CO of the 2nd Battalion, Middlesex Regiment. He was only with the battalion for a few short months, however, before receiving promotion to colonel on 1 August (with seniority backdating to 1 January 1939) and being made an Assistant Quartermaster-General at the War Office.
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Citing his friendship with incoming coach, Simon Goodwin, as the key reason for his move to Melbourne, Melksham noted the opportunity for a fresh start as another reason for his move. Melksham, along with 33 other Essendon players, were found guilty of using a banned performance-enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his teammates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, however, a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 season.
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Fremantle Dockers Forward Scott Gumbleton Retires, Triple M Melbourne, 1 September 2014 He returned to Melbourne to play for the Banyule Football Club in the Northern Football League from 2015. Gumbleton, along with 33 other Essendon players, was found guilty of using a banned performance-enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his team-mates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 season with Banyule.
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Experts say that weaknesses in the "tone at the top" have been associated with most modern financial frauds. Poor tone at the top may include a disdain for internal controls, an overemphasis on profits at the expense of ethics, a belief that compliance with the law is sufficient for defensible ethical conduct, the canvassing and accommodating of some stakeholders but not others, blaming higher-ups or colleagues for unethical practices, having one's judgement clouded due to conflicts of interest, and a misunderstanding of and lack of adherence to public expectations of what constitutes ethical behaviour for executives. Backdating stock options and pegging the granting of options to significant good or bad corporate announcements (known as spring-loading and bullet-dodging) are compensation practices that can be indicative of poor tone at the top.
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Worsnop described it as fashioned from a type of jade, though later scholars have stated it is made of soapstone, and stated that all inquiries he had made to determine what it represented had failed to clarify its origin. Eventually, In a paper read before the Royal Society of South Australia on 8 March 1928, Norman Tindale identified it as a Chinese deity from the Tang dynasty, a high backdating which elicited Fitzgerald's skepticism. The deity in question, associated with Canopus, is the Old Man of the South Pole,Shòu lǎo,(壽老), the Chinese god of longevity who was one of the Sānxīng, or three stellar deities in Chinese religion. Peter Worsley took up Fitzgerald's remark in 1955, making a succinct synthesis of the overall scholarship regarding pre-European contacts with northern Australia.
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Gloss was fired just before the investigation results were announced in May 2007. Abraham David Sofaer was hired to investigate the investigation after Gloss alleged it was not independent. In announcing the results of its own inquiry, the SEC did not give Marvell the credit granted other companies in the options scandal for cooperating with the SEC’s investigation or for cleaning up. At the time of the announcement, the co-acting regional director of the SEC’s San Francisco office stated, among other things, that the SEC did not believe that the lack of cooperation and remediation shown by Marvell merited a whole lot of credit in terms of giving Marvell a break. In announcing its results, the SEC found that Gloss was not a participant in Dai and Sutardja’s backdating scheme.
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In 2015, following a wave of sentiment against Confederate symbolism in the wake of shootings in Charleston, SC (relating to photos where the attacker had posed with the Confederate flag), Bubba Watson announced that he would remove the Confederate Flag from the roof of the General Lee 1 and repaint it with the U.S. National Flag. The show also used 1968 Chargers (which shared the same sheet metal) by pop-riveting the "I" piece to the center of the 68's grille, as well as cutting out the tail lights, pop-riveting the '69 lenses in place, and removing the round side marker lights. These Chargers performed many record- breaking jumps throughout the show, almost all of them resulting in a completely destroyed car. No 1970 Chargers were used, as backdating them proved to be too time-consuming.
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Colyer, along with 33 other Essendon players, was found guilty of using a banned performance enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his team- mates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 AFL season. On 17 October 2018, in the final minutes of the 2018 AFL Trade Period, Colyer was traded to the Fremantle Football Club, for a future fourth-round selection, after nine seasons and eighty-seven games with Essendon.
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Baptiste failed a doping test in April 2013; the test result was announced in August just ahead of the 2013 World Championships in Athletics in Moscow, which she had been scheduled to compete in.Kelly-Ann Baptiste: Trinidad and Tobago sprinter fails drugs test, BBC Sport, 10 August 2013. Baptiste received a two-year ban from the IAAF, though Trinidadian authorities argued for a shorter ban on the grounds that she fully co-operated with anti-doping investigators; her case was compared to that of her training partner Tyson Gay, who had also co-operated with authorities after a failed test and received a reduced ban of only one year. The Court of Arbitration for Sport eventually cleared Baptiste to compete in January 2015; the effective duration of her ban was 21 months, backdating to 24 April 2013.
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On 18 February Penney was made a Commander of the Order of the British Empire (CBE) and, on 25 June, his rank of major general was made permanent (with seniority backdating to 17 November 1941). Alexander's influence later secured Penney's next major appointment, as GOC of the 1st Infantry Division, in mid-October 1943, succeeding Major General Gerald Templer. Just over two years after Penney had left the division, he now returned as its GOC, although it had a slightly different composition (with the 24th Guards Brigade replacing the 1st Guards Brigade) than that of two years before. The division had recently fought with great distinction in the final stages of the fighting in Tunisia, earning three Victoria Crosses (VC) in a week, and was based near Tunis, training for future participation in the Italian campaign.
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The union has informed Ryanair that it would reconsider putting a package to ballot if it received written assurances that Fórsa was the "sole and exclusive representative body for collective bargaining purposes including pay, terms and conditions" for Ryanair pilots employed in Ireland, assurances that accepting the package would not preclude negotiations with Fórsa on members' pay and conditions, the backdating of pay awards following pay negotiations, or any third-party recommendation being implemented. However, Ryanair continued to refuse to accept any negotiated settlement with Fórsa. Eventually, in July, Fórsa members finally agreed to actually go strike to protect their rights, the final straw being pilots seeking a basic system covering base allocation and transfer, promotion, the timing of annual leave and other issues determined by length of service.Irish Times, Ryanair pilots vote for strike action on July 12th, The Irish Times 3 July 2018.
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Jeffry Picower was an industrialist and philanthropist who seemed to be a favored Madoff beneficiary, and made outlandish profits from his investments with Madoff. From 1996–2007 there were 14 instances of greater than 100% yearly returns, and 25 of greater than 50%. From 1996–1999 his regular trading account made from 120–550% a year. Some evidence of backdating trades, instituted by Picower, was presented by trustee Irving Picard. In June 2009, Irving Picard, the trustee liquidating Madoff's assets, filed a lawsuit against Picower in the U.S. Bankruptcy Court for the Southern District of New York (Manhattan), seeking the return of $7.2 billion in profits, alleging that Picower and his wife Barbara knew or should have known that their rates of return were "implausibly high", with some accounts showing annual returns ranging from 120% to more than 550% from 1996 through 1998, and 950% in 1999.
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Hibberd, along with 33 other Essendon players, was found guilty of using a banned performance-enhancing substance, thymosin beta-4, as part of Essendon's sports supplements program during the 2012 season. He and his teammates were initially found not guilty in March 2015 by the AFL Anti-Doping Tribunal, but a guilty verdict was returned in January 2016 after an appeal by the World Anti-Doping Agency. He was suspended for two years which, with backdating, ended in November 2016; as a result, he served approximately fourteen months of his suspension and missed the entire 2016 season. After speculation surrounding whether he would return to Essendon once his suspension was finished, he confirmed in August that he wanted to be traded to another club for a "fresh start" despite being contracted to Essendon until the end of 2017 and he nominated as his preferred destination in September.
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Three judges, Fullagar, Kitto and Taylor JJ, used the highly formalistic criterion of liability approach (which has since been discredited) to decide this case. In this approach, the fees were not viewed as excise duties because the criterion of liability does not fall in a step between the production of the good and the receipt of the good by the consumer due to the backdating (per Kitto J). The payment of the fee is seen as occurring as part of business generally; also, because the fee is not payable at the time of the purchase of the liquor, and because the retailer may choose not to renew his licence, the fee does not necessarily become an indirect cost for the consumer. The distinction, therefore, is that the fees were imposed not on goods, but on licences, and thus not an excise duty. These three judges held that the fees were not excise duties and hence were not invalid.
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In October 2015, the New York Times published an article stating that "The question, which many books and scholarly treatises have never definitely answered, is whether the 37-acre site, home to Islam's sacred Dome of the Rock shrine and al-Aqsa Mosque, was also the precise location of two ancient Jewish temples, one built on the remains of the other, and both long since gone." Within a few days, the newspaper responded to feedback by changing the text to "The question, which many books and scholarly treatises have never definitively answered, is where on the 37-acre site, home to Islam’s sacred Dome of the Rock shrine and Al Aqsa Mosque, was the precise location of two ancient Jewish temples, one built on the remains of the other, and both long since gone." A few weeks later, the newspaper further corrected the story, backdating the Islamic waqf that controls the site from 1967 to 1187.
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