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It’s been a little over three years since the WSJ broke the options-backdating scandal, which among other things, led to the removal of former UnitedHealth (UNH) CEO Charles McGuire. In December 2007, McGuire settled with the SEC and this past December, the SEC settled on several related matters.
But their have been numerous other lawsuits stemming [...]
This week TeleTech Holdings (TTEC) restated 12 years’ worth of financials dating back to 1996 – the year in which Nintendo 64 debuted, Alan Greenspan spoke of “irrational exuberance” and Christie Brinkley married that scoundrel she’s now divorcing.
The culprit was misdated stock options. In a February 8-K, TeleTech announced the results of an internal review of option grants [...]
Remember the good old days before we taxpayers found ourselves bailing out the likes of Bear Stearns, back when the most exciting story on the business page was stock option backdating? Sure, the backdating scandal was disturbing, revealing widespread sneakiness in the service of greed, and it caused a bunch of earnings restatements. But no [...]
Cranky markets make for cranky people, but life as we know it must continue. And here at Footnoted, life as we know it often includes posting about Tyson Foods (TSN), one of our frequent flyers (last footnoted by Michelle in November).
Friday brought the news that former Chairman/CEO Don Tyson and other insiders had settled the [...]
So you think your week was hectic? Dell Computer (DELL) has you beat. This week the company filed – count ‘em – five 10-Qs (here and here and here and here and here), a proxy statement and last year’s 10-K. As explained in this press release, the filings contain restated financial information stretching all the [...]
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