It certainly looked like CNET Networks was headed for trouble last October when it issued a press release saying that stock options to employees were routinely misdated from 1996 "through at least 2003." The company's CEO, GC and HR chief were driven out, and in January the company announced that it was restating more than $105 million in past expenses. But on Tuesday, lawyers received good, if surprising, news: The SEC has closed its investigation of CNET and the three executives who were forced to leave.
September 05, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
It certainly looked like CNET Networks was headed for trouble last October when it issued a press release saying that stock options to employees were routinely misdated from 1996 “through at least 2003.”
Three top executives — the company’s CEO, general counsel and HR chief — were driven out as a result of those findings. And things didn’t seem to get any better in January when the company announced that it was restating more than $105 million in past expenses thanks to options problems.
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