Jacob Alexander, co-founder of Comverse Technology Inc., (CMVT) agreed to pay $53.6 million to settle charges of backdating stock options and misleading investors.
The settlement consists of a $6 million penalty and the paying of $47.6 million that the SEC considers his “ill-gotten gains”, the agency said in a statement. Alexander is barred from serving as officer or director of a public company. …
Continue reading Former Comverse CEO Settles SEC Charges for $53.6 Million
Former Comverse CEO Settles SEC Charges for $53.6 Million originally appeared on DailyFinance on Wed, 24 Nov 2010 06:56:00.
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