Monday, December 7, 2009

Black Box Options Backdating Case Settled

The SEC's options backdating cases are not over yet. The Securities Law Professor Blog's recent post, Black Box and Two Former Officers Settle Back Date Charges with the SEC, and notes that the Commission announced that it filed a civil action in the United States District Court for the Western District of Pennsylvania against Black Box Corporation ("Black Box"), a Lawrence, PA technical services provider, its former Chief Executive Officer Frederick C. Young, 53, of Silver Point, Tennessee, and its former Chief Financial Officer Anna M. Baird, 52, of Bridgeville, PA, alleging violations related to stock-options backdating.

Without admitting or denying the Commission's allegations, all three defendants agreed to settle the matter. More>>>

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