Backdating wall

On October 15, 2006, it was announced that Mc Guire would step down immediately as chairman and director of United Health.Mc Guire remained as chief executive officer through December 1, and was succeeded by Stephen Hemsley (then president and chief operating officer, and a member of the board of directors).

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The media has jumped on the story, looking for scapegoats and all too eager to see this story as one more example of “greedy” corporate executives enriching themselves (supposedly) at shareholder expense.Their scheme is alleged to have resulted in the restatement of income because of the understatement of Comverse’s compensation expense.Sorin himself was alleged to have realized more than million from the sale of stock underlying the exercises of backdated option that were granted during the 1991 to 2001 period.From 1989 until 2006, Mc Guire received compensation from United Health in the form of stock options that eventually became worth around

The media has jumped on the story, looking for scapegoats and all too eager to see this story as one more example of “greedy” corporate executives enriching themselves (supposedly) at shareholder expense.

Their scheme is alleged to have resulted in the restatement of income because of the understatement of Comverse’s compensation expense.

Sorin himself was alleged to have realized more than $14 million from the sale of stock underlying the exercises of backdated option that were granted during the 1991 to 2001 period.

From 1989 until 2006, Mc Guire received compensation from United Health in the form of stock options that eventually became worth around $1.6 billion.

On December 6, 2007, the Securities and Exchange Commission announced a settlement, under which Mc Guire was to repay $468 million as a partial settlement of the backdating prosecution.

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The media has jumped on the story, looking for scapegoats and all too eager to see this story as one more example of “greedy” corporate executives enriching themselves (supposedly) at shareholder expense.Their scheme is alleged to have resulted in the restatement of income because of the understatement of Comverse’s compensation expense.Sorin himself was alleged to have realized more than $14 million from the sale of stock underlying the exercises of backdated option that were granted during the 1991 to 2001 period.From 1989 until 2006, Mc Guire received compensation from United Health in the form of stock options that eventually became worth around $1.6 billion.On December 6, 2007, the Securities and Exchange Commission announced a settlement, under which Mc Guire was to repay $468 million as a partial settlement of the backdating prosecution.

.6 billion.On December 6, 2007, the Securities and Exchange Commission announced a settlement, under which Mc Guire was to repay 8 million as a partial settlement of the backdating prosecution.

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