Latham & Watkins partner Steven Bauer told a San Jose, Calif., jury in opening statements Tuesday that his client Carl Jasper shouldn't be blamed for backdating options at Maxim Integrated Products. Instead, he argued, the fault lies six feet under with John Gifford, the founder and CEO of Maxim who died of a heart attack in January 2009. Jasper, Maxim's former chief financial officer, is the first executive to be taken to trial over backdating by Securities and Exchange Commission lawyers in San Francisco.
April 07, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Here’s a new defense against stock option backdating charges: Blame the dead guy.
Latham & Watkins partner Steven Bauer told a San Jose, Calif., jury in opening statements Tuesday that his client Carl Jasper shouldn’t be blamed by the government for backdating options at Maxim Integrated Products Inc. Instead, he argued, the fault lies six feet under with John “Jack” Gifford, the founder and CEO of Maxim who died of a heart attack in January 2009.
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