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Jasper signed all of Maxim’s filings with the SEC at that time.

Liability was found in the Maxim case partly because backdating and a failure to expense the practice were proven, Fickes notes.

The Securities and Exchange Commission prevailed in its jury trial against Jasper in April 2010, but it has taken until now for the case to wind through the U. He was ordered to repay Sunnyvale, California-based Maxim

Jasper signed all of Maxim’s filings with the SEC at that time.

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Jasper signed all of Maxim’s filings with the SEC at that time.

Liability was found in the Maxim case partly because backdating and a failure to expense the practice were proven, Fickes notes.

The Securities and Exchange Commission prevailed in its jury trial against Jasper in April 2010, but it has taken until now for the case to wind through the U. He was ordered to repay Sunnyvale, California-based Maxim $1.8 million, as well as pay a civil penalty of $360,000.

The practice of backdating stock options as a way of retaining valued employees is legal, as long as the true expense of the backdated options is recorded as a company expense for employee compensation.

Those options give John the right but not the on the date of the grant.

.8 million, as well as pay a civil penalty of 0,000.

The practice of backdating stock options as a way of retaining valued employees is legal, as long as the true expense of the backdated options is recorded as a company expense for employee compensation.

Those options give John the right but not the on the date of the grant.

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“It falls on them because the statements were materially false at a time they were representing those statements were accurate,” says Mark Fickes, partner at Braun Hagey & Borden and former lead trial counsel for the SEC in the Maxim/Jasper trial.The Dating Game, by James Surowiechi, The New Yorker: ..When news broke, earlier this year, that some companies had backdated stock-option grants ...Granting stock options to employees is a generally accepted and perfectly legal form of compensating employees. Critics of backdating argue that the practice is difficult to detect and thus encourages boards and executives to use it to synthesize more creative compensation packages.In our example, backdating the options is the same as giving John Doe a check for ,000 -- without recording that ,000 on the within two business days.The backdating companies broke this rule: they reported how many options they were issuing, but conveniently omitted the fact that they had been backdated. The bigger reason for choosing to backdate is to get around some bothersome accounting regulations.

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