Is the current backdating scandal a result of director negligence or director complicity?
Before Comverse announced its internal probe, John Friedman, a member of the board's compensation committee, said directors had noticed the scattered nature of the grants -- eight between 1994 and 2001 fell in six different months -- but management assured them there were valid reasons.
This week, Comverse said that, as a result of the board's review of its options grants, it expects it will need to restate past financial results.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment