Thursday, January 11, 2007

Backdating Stock Options

While not necessarily illegal, the unethical practice of backdating stock options for "favorable grant dates" has been uncovered at Affiliated Computer Services Inc. CEO Mark King and CFO Warren Edwards were sent walking after an investigation found they had backdated stock options.

The entire business world is now facing this issue and many high profile executives have been put out on the street because of it. It is of no surprise that a student loan company has faced the same problem.

Source: Sun-Sentinel