Dozens more companies may be charged with backdating stock option grants, Bloomberg reports, citing U.S. officials, lawyers and executive-pay experts.
As early as this week, the
In what has become the biggest scandal since the uncovering of the mutual fund trading transgressions in 2003, the
"It really calls profoundly into question the assertion we've heard innumerably over the years from the business community that they've cleaned up the mess," said Damon Silvers, associate general counsel at the
The Department of Justice filed its first criminal charges in the scandal last week, against former
The SEC started the investigation, and besides the Justice Department, U.S. attorneys in at least seven districts have opened investigations of their own. They include New York, Boston, San Francisco, Los Angeles, St. Louis and Newark, N.J. The
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.