Comverse options backdating

Jacob “Kobi” Alexander, 64, will plead guilty to one count of backdating stock options, the lawyer, Benjamin Brafman, said in an email.

The defendant had been arrested in Namibia in September 2006 after a global manhunt. Department of Justice did not immediately respond to a request for comment.

District Judge Nicholas Garaufis ordered Alexander detained, calling him a flight risk. Concealing the practice through improper accounting is illegal, and can inflate earnings.

prosecutions arising from government or internal investigations of stock options backdating at over 200 companies, including Comverse, which was acquired in 2013 by former unit Verint Systems Inc (In backdating, a company retroactively grants stock options on dates when stock prices are lower, making them more valuable.

NEW YORK Microsoft Corp on Wednesday unveiled its first-ever desktop computer and a free update to its Windows operating system that allows edits using 3D simulations, in hopes of reinvigorating its computing business.

The former Comverse Technology chief executive officer who authorities say fled to Africa a decade ago to avoid prosecution in a stock options scandal will return to the United States and plead guilty to a criminal charge, his lawyer said on Monday.

Law360, New York (December 18, 2009, PM EST) -- Comverse Technology Inc. Securities and Exchange Commission, Comverse said it had settled a consolidated shareholder class action pending in the U. District Court for the Eastern District of New York, along with consolidated derivative actions pending in the same court and in the New York...

Last modified 10-Feb-2015 05:25