Options backdating law Lynda camsex
And at yesterday’s sentencing hearing, trial judge Charles Breyer expressed no interest in passing off blame to Brocade’s outside counsel.
“At some point individuals have to stand up and take responsibility for what they say or do,” Breyer said.
The Law Society of Upper Canada Ontario Discipline Committee determined that backdating the employment contracts was for the purpose of misleading a third party, and suspended the solicitor for a period of twelve months.
The dismissal gave the plaintiffs until May 3, 2007 to seek to amend the complaint.
The Xilinx dismissal was also a voluntary dismissal.
The Xilinx and Novellus dimissals are discussed in a May 15, 2007 article entitled “Why The Lawsuits Over Options Backdating Are Failing” (here).
Awarding employees with stock options those are dated prior to the actual grant date.
The date chosen could be one when the company’s stock was at a low, so the options can be in-the-money at the time of granting itself.