“A Prosecutor who alleges enough wrongdoing will always get a conviction – the jury assumes, the defendant must have done something.” – Thomas Jefferson.
Apple settles backdating stock options fraud lawsuit for $20.5mn
By Peggy, CMA
“…Strike prices are set up to be out of the money, in order for executives to work hard to drive the company stock price up, at which point they could be hugely compensated with the stock options given they could increase shareholder value sufficiently within their term.
Backdating is a type of securities fraud were usually top level executives cooperate in a scheme to change an original call option strike price to a lower exercise price in order to increase their profits when the option is exercised…
This type of fraud comes entirely to the expense of shareholders…”