Backdating wall street
It is being examined by the Securities and Exchange Commission. 7, the company announced that investors should no longer rely on its prior disclosures about the findings of its continuing internal probe. Noncash compensation costs related to backdating will be about $51 million, plus additional tax-related expenses.
It had previously said a preliminary review suggested no intentional backdating occurred and any charges were likely to be minor. (Headlines) (Options chart) The maker of gene-testing devices said on Aug 1 that an internal probe has uncovered "certain documentation lapses" in its stock options grant processes from 1997 through 1999, including one instance when the option grant date should have been recorded differently.
Mc Guire joined United Healthcare in November 1988 as an executive vice president when the Peak Health Plan, of which he was then president and chief operating officer, was acquired by United.
In May 1989, he was appointed to the board of directors and became chief operating officer of United.
For example, if one signs a contract on February 1, one may backdate it to January 31.