Months backdating case sentence reyes securities ceo corporate scandals justice amputeedating com amputee women

04-Feb-2017 10:04

FILE - In this July 26, 2007 file photo, former Brocade Communications Systems Inc.Chief Executive Gregory Reyes and his wife, Penny, leave the federal building in San Francisco. 18, 2009 tossed out the criminal conviction of Gregory Reyes, the first Silicon Valley executive to go to trial in a stock options scandal that triggered charges against at least a dozen executives.The feds say no way, since Karatz lied to both KB lawyers and independent auditors about the concealment.Instead, "the record readily establishes that [Karatz] used Hirst to perpetrate a fraud," according to papers filed by the prosecution.

months backdating case sentence reyes securities ceo corporate scandals justice-41

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Unless and until the stock price rises sufficiently to result in a dilutive effect on earnings per share, the current accounting for most fixed stock options treats them as though they were a "free good." Stock options have value--employee stock options are granted as consideration for services and thus are not free.Another appeal may be in the works after the latest guilty finding by a jury.Gregory Reyes, ex-CEO of Brocade Communications and former owner of the San Jose Sharks, was found guilty by a federal jury on March 26 of intentionally backdating stock options for the benefit of employees and himself, according to the .The FASB fought long and hard for a tougher standard than FAS 123, but accounting firms like Arthur Andersen fought vigorously to derail the FASBs attempts to require firms to book stock options when they are granted.

Appendix B extends the Appendix A illustration to a situation where half the labor time is devoted to generating revenues and half the labor time is devoted to generating a software asset that has unrealized value appreciation due to labor added each year.85.Since recognition means depiction of an item in both words and numbers, with the amount included in the totals of the financial statements, disclosure by other means is not recognition.Disclosure of information about the items in financial statements and their measures that may be provided by notes or parenthetically on the face of financial statements, by supplementary information, or by other means of financial reporting is not a substitute for recognition in financial statements for items that meet recognition criteria.]Federal prosecutors aren't buying former KB Home CEO Bruce Karatz's claim that he didn't defraud shareholders during the backdating scandal that rocked the company.