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September 22, 2006

Company Admits Backdating Options of Dead CEO of Cable Vision Systems

posted by MR WAVETHEORY at 9/22/2006 05:54:00 AM
CableVision admitted that it backdated options for a deceased CEO.
Cablevision Systems Corp. awarded options to a vice chairman after his 1999 death but backdated them, making it appear the grant was awarded when he still was alive, according to a company filing and people familiar with the matter.
This is just bizarre and morbid. I wouldn't blame the CEO. After all, he's dead. I blame the idiots who forgot that the CEO was dead. Maybe they felt their fearless leader was running short on cash, and just needed an extra boost of wealth in the underworld.

Related: High Tech Executives Create Volatility In Their Stock to Enable Options BackDating

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