Backdating

Take-Two Pays $3M to Settle Stock Options Backdating Probe

Authored by Mark Hefflinger on April 1, 2009 - 9:56am.
Washington - The U.S. Securities and Exchange Commission (SEC) on Wednesday said that video game publisher Take-Two Interactive (NASD: TTWO), makers of the "Grand Theft Auto" franchise, has paid $3 million to settle SEC charges that it backdated stock options. The SEC said that former Take-Two chairman and CEO Ryan Brant and other former executives took part in a scheme that granted backdates stock options more than 100 times between 1997 and 2003.

BlackBerry Maker RIM Settles Backdating Charges in Canada

Authored by Mark Hefflinger on February 6, 2009 - 5:09am.

Waterloo, Canada - BlackBerry maker Research in Motion (NASD: RIMM) announced this week that it will pay $74.5 million to settle a stock options backdating charge from the Ontario Securities Commission.

Apple Executives to Pay $14M to Settle Stock Options Lawsuit

Authored by Mark Hefflinger on September 10, 2008 - 10:49am.

New York - A group of Apple (NASD: AAPL) senior executives, including CEO Steve Jobs, has agreed to settle a derivative lawsuit that alleged they damaged the company through their involvement in the backdating of Apple stock options, the Associated Press reports.

Justice Dept. Ends Apple Backdating Probe; No Charges Filed

Authored by Mark Hefflinger on July 11, 2008 - 9:18am.

Washington - The U.S. Justice Dept. has concluded its criminal investigation into the stock options granting practices of Apple (NASD: AAPL), and will not bring criminal charges against CEO Steve Jobs or any other current or former executives, The Wall Street Journal reported.

tags: Law | Apple | DOJ | Washington | Backdating |

SEC Ends Stock Options Probe of THQ; No Charges Filed

Authored by Mark Hefflinger on February 27, 2008 - 9:31am.

Agoura Hills, Calif. - Video game publisher THQ (NASD: THQI) announced on Wednesday that it has received word that the SEC has completed its investigation into the company's stock options granting practices, and will not recommend any action against the company.

tags: Games | Law | THQ | SEC | Backdating |

EA Off Hook in SEC Options Probe; Closing Chicago Office

Authored by Mark Hefflinger on November 7, 2007 - 11:34am.

Redwood City, Calif. - Video game developer and publisher Electronic Arts (NASD: ERTS) announced on Wednesday that the Securities and Exchange Commission (SEC) has terminated its enquiry into the company's stock options grant practices, and recommended no enforcement action.

Report: Apple CEO Jobs Subpoenaed for Testimony in Backdating Suit

Authored by Mark Hefflinger on September 20, 2007 - 8:28am.

Washington - Apple CEO Steve Jobs has been subpoenaed by the SEC to give a deposition in a lawsuit related to the company's stock options granting practices, Bloomberg reported on Thursday, citing two people familiar with the matter.

Sonic Solutions Gets Another Nasdaq Notice

Authored by Mark Hefflinger on August 21, 2007 - 11:38am.

Novato, Calif. - Sonic Solutions, a provider of professional and consumer DVD and CD creation software, announced on Tuesday that it has received an additional notice from the Nasdaq that its shares of in danger of being delisted, this time due to its failure to file its quarterly report on time.

SEC May File Charges Against Game Publisher Take-Two

Authored by Mark Hefflinger on August 16, 2007 - 12:28pm.

New York - Video game publisher Take-Two Interactive has announced that the company received notice from the Securities and Exchange Commission (SEC) that it may file charges in relation to Take-Two's stock option granting practices.

SEC Upgrades CNET Stock Options Probe to "Formal Investigation"

Authored by Mark Hefflinger on August 2, 2007 - 10:29am.

San Francisco - An informal inquiry into stock options granting practices at technology publisher CNET Networks has been upgraded to a formal investigation, the company said in its second quarter earnings statement.

Two Former Take-Two Executives Plead Guilty in Backdating Probe

Authored by Mark Hefflinger on July 20, 2007 - 12:11pm.

New York - Two former executives with video game publisher Take-Two Interactive pleaded guilty this week on charges connected to a stock options backdating scandal that has already seen the conviction of former chief executive Ryan A. Brant, The New York Times reported.

SEC Launches Probe of Forrester Stock Options

Authored by Mark Hefflinger on June 21, 2007 - 12:02pm.

Cambridge, Mass. - Forrester Research, the Cambridge, Mass.-based, technology market research firm, has received notification from the Securities and Exchange Commission (SEC) that it intends to launch an investigation relating to the company's stock option granting practices.

Game Publisher Take-Two to Cut Staff Amid Restructuring

Authored by Mark Hefflinger on June 12, 2007 - 2:01pm.

New York - Video game publisher Take-Two Interactive has announced plans to lay off an undisclosed number of staff, as part of a restructuring aimed at reviving a company that has lately seen a shareholder revolt and been plagued with controversies over stock options and its "Grand Theft Auto" game franchise.

Activision to Take $67 Million Charge Over Stock Option Grants

Authored by Mark Hefflinger on May 3, 2007 - 1:36pm.

Santa Monica, Calif. - Video game publisher Activision said on Thursday that it expects to record a charge of $67 million to account for errors in its stock option granting practices from 1994-2006.

Getty Images Acquires Stock Photography Firm PunchStock

Authored by Mark Hefflinger on May 2, 2007 - 1:37pm.

Seattle - Getty Images, a licensor of stock photography, announced that it has acquired PunchStock, a Wisconsin-based stock image provider. Financial terms of the deal were not disclosed.

Take-Two CFO Resigns; Company Regains Nasdaq Compliance

Authored by Mark Hefflinger on April 10, 2007 - 1:27pm.

New York - Days after a group of dissident shareholders ousted the CEO and five of six board members at game publisher Take-Two Interactive, the company's chief financial officer has resigned.

tags: Games | Moves | Take-Two | SEC | Backdating |

Game Publisher Take-Two Says SEC Investigating Stock Option Grants

Authored by Mark Hefflinger on April 5, 2007 - 12:10pm.

New York - Video game publisher Take-Two, creators of the "Grand Theft Auto" franchise, is now the subject of a formal investigation by the Securities and Exchange Commission (SEC) into its stock options granting practices, the company said in a regulatory filing.

Disney Finds Pixar Options Backdated, Clears Current Execs of Misconduct

Authored by Mark Hefflinger on March 19, 2007 - 10:44am.

Burbank, Calif. - The Walt Disney Company announced that an internal investigation found that employee stock options at Pixar, its digitally animated film studio, were "backdated" prior to Disney's acquisition of the company.

Activision Finds Stock Options Backdated, Clears CEO of Wrongdoing

Authored by Mark Hefflinger on March 9, 2007 - 1:04pm.

Santa Monica, Calif. - Video game publisher Activision has announced that a seven-month internal inquiry into its stock options granting practices has found instances of "backdating" between 1994 and 2006, but found no evidence of wrongdoing by the company's CEO, co-chairman, general counsel or a senior adviser.

Former Take-Two CEO Pleads Guilty to "Backdating" Stock Options

Authored by Mark Hefflinger on February 14, 2007 - 2:03pm.

New York - The founder and former CEO of video game publisher Take-Two Interactive on Wednesday became the first ex-CEO in the country to plead guilty to "backdating" stock options to make them more valuable to himself and company employees.