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Jacob Alexander
Jacob Kobi Alexander was the former chief executive of a leading voicemail software maker, Comverse Technology Inc., in Wakefield Ma. Mr. Alexander was a fugative from the law, and was eventually arrested in the Republic of Namibia. He... [more]
Jacob Kobi Alexander was the former chief executive of a leading voicemail software maker, Comverse Technology Inc., in Wakefield Ma. Mr. Alexander was a fugative from the law, and was eventually arrested in the Republic of Namibia. He is awaiting extradition.
Defendants:
The Complaint:
The defendants are accused of backdating the exercise price of company stock options to the low point in the stock's value. A stock option's exercise price usually coincides with the fair market value at the time of the grant. Options with a backdated strike price are far more valuable.
Mr. Alexander exercised options and sold stock worth approximately $150 million. His profit was $138 million. $6.4 million was generated by the backdated options. Mr. Kreinberg and Mr. Sorin both earned about $1 million on backdated options.
In addition, the company awarded stock options to "fictional employees", under an internal account by the name "I.M. Fanton" (which stood for "phantom").
Current Status:
- CEO Jacob "Kobi" Alexander
- CFO David Kreinberg
- General Counsel William Sorin
The Complaint:
The defendants are accused of backdating the exercise price of company stock options to the low point in the stock's value. A stock option's exercise price usually coincides with the fair market value at the time of the grant. Options with a backdated strike price are far more valuable.
Mr. Alexander exercised options and sold stock worth approximately $150 million. His profit was $138 million. $6.4 million was generated by the backdated options. Mr. Kreinberg and Mr. Sorin both earned about $1 million on backdated options.
In addition, the company awarded stock options to "fictional employees", under an internal account by the name "I.M. Fanton" (which stood for "phantom").
Current Status:
- David Kreinberg surrendered in August and was released on a $1 million bond
- William Sorin also surrendered in August and was released on a $1 million bond
- Kobi Alexander has been captured in Africa following a two-month international manhunt.
Kobi Alexander
Kobi Alexander, Chairman and Chief Executive Officer of Comve
Linked from: lakewyliepilot.com
Appropriately, I learned that Jake had died from a flyer in Golden Gate Park. From his obituary, I learned that he was 78, a creator of fabric art, and had traveled widely and lived imaginatively. None of that seemed surprising.Every week day for decades, he walked the path adjacent to Kennedy Drive in Golden Gate Park. According to a San Francisco Chronicle article from 1999, he started the practice in 1982, moving from the Mission to the...
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Comverse employees: Home and awayGlobesFrom a position in which the management was friends and family of Kobi Alexander, as a former senior manager puts it, and in which “Kobi, with a telephone ...
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From news.google.com
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The Atlantis Exhibition: The under-the-sea erotic art party ...Twin Cities PlanetThe Atlantis Exhibition is a collaboration by 27 artists and musicians, produced by local multimedia artist Jacob Alexander. Alexander's work is heavily ...
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From news.google.com
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Youth football roundup: September 15, 2009Ventura County StarSpecial teams played well, including strong performances by kickers Jacob Alexander and Tony Marietta. Highlights: Camarillo — Quarterback Steven Suarez ...and more »
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From news.google.com
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Officers confiscate white liquorMorganton News HeraldJacob Alexander Smith, 19, of 2875 McClellan Drive, Nebo was charged Friday with resisting, delaying or obstructing arrest and underage consumption of ...and more »
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From news.google.com
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