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Last year, a federal judge in Orange County threw out similar cases against Broadcom Corp. Karatz's lawyer said his client did nothing wrong and was being unfairly prosecuted. Paul Stern, a prosecutor in the case. The Bottom Line Betting on stock prices when you already know the answer is dishonest.

The case also stands apart because of how much Karatz himself allegedly benefited. When those firms have no ethical boundaries, their wares become suspect. Otherwise, it can allow companies to overstate profits and underpay taxes. Ray testified that Karatz told him to backdate stock options and to keep the practice secret from others, including the compensation committee at the Westwood home builder. Stock options typically are granted to employees with an exercise price tied to the date of the grant.

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In most of the backdating cases, golos na pervom online dating including the case of Broadcom founders Henry T. Backdating options to when the price of a company's stock was low makes them more valuable to recipients and is supposed to be disclosed to other shareholders. Backdating Scandal Returns to the Forefront.

It was the second time that top officials of high-flying California companies had been accused of criminally manipulating stock options. The maneuver is legal if it is properly accounted for and disclosed to investors. Karatz retroactively tied the exercise price of his options to dates when the stock was selling for a low price, which increased his profit when he sold the shares. By faking the issue date, they could guarantee themselves in-the-money options and instant profits.

District Judge Otis Wright refused to allow Karatz's attorneys to pursue similar misconduct claims, saying he found no evidence of wrongdoing. Karatz has long been a target of shareholder activists and labor unions, who accused him of taking more than his fair share of company profit. Performance-based compensation, on the other hand, was deductible. This enabled companies to issue enormous compensation packages to senior executives without notifying shareholders.

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Read on to find out how the scandal emerged, what brought it to and end and what you can learn from it now. Karatz's lawyers made that inconsistency a key part of their defense. Check out Investopedia Academy's Options for Beginners course.

These changes reduced the likelihood of future backdating incidents. The Dangers of Options Backdating. From a shareholder's perspective, nobody likes to be lied to when providing the financing and paying the salaries. Prosecutors and defense attorneys agreed that Ray deserved probation. Delivered twice a week, straight to your inbox.

Options Backdating