From news.google.com
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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.
Sorted by: Top Rated
Kobi Alexander
Kobi Alexander, Chairman and Chief Executive Officer of Comve
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From news.google.com
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Wives more than happy with their KevinsThe Daily PostDaters named Jacob, Alexander, Charlotte, Emma , Hannah or Max were much more likely to have good luck. "Single people would seem to prefer to remain alone than meet up with someone called Kevin or Chantal," lead researcher Jochen Gebauer is reported ...
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From news.google.com
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Few clicks for single Kevins or ChantalsNew Zealand HeraldDaters named Jacob, Alexander, Charlotte, Emma, Hannah or Max were much more likely to have good luck, the researchers found. The results came from a study by psychologists at Berlin's Humboldt University who tested how often 47000 dating site members ...and more »
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From news.google.com
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BloombergSlideshow: The Top SEC Settlements of 2011BloombergJust two of the SEC's 20 largest settlements were cases solely against individuals: the fugitive and former CEO of Comverse Technology Jacob "Kobi" Alexander, and former Qwest Communications CEO Joseph Nacchio. Note: Data are from the SEC. ...
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From news.google.com
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Overview
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.
