Thursday, August 10, 2006

Two "alleged" options misdaters surrender to FBI

Reuters reports:

Two former officers of Comverse Technology Inc. (Nasdaq:CMVT - news) surrendered to FBI agents on Wednesday as authorities moved to bring fraud charges against them, as well as the software group's co-founder, in a widening investigation of corporate stock option manipulation.

With more than 80 investigations under way involving dozens of companies, former Comverse finance chief David Kreinberg and former senior general counsel William Sorin surrendered and were expected to be arraigned on Wednesday in federal court in New York, said a spokesman for the U.S. Department of Justice.
Do you wonder if this news distracts the executives, of the 80 or so firms with pending investigations, from their jobs?

Hat tip to the FBI.

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