The former general counsel of Comverse Technology has been ordered to pay $1m (£625,000) to partially fund a class action settlement stemming from alleged stock option backdating, reports Corporate Counsel. William Sorin has already spent a year in prison for his role in stock option backdating at the company, making him the first corporate executive to serve time for options-related crimes.
January 06, 2010 at 06:43 AM
1 minute read
The original version of this story was published on Legalweek
The former general counsel of Comverse Technology has been ordered to pay $1m (£625,000) to partially fund a class action settlement stemming from alleged stock option backdating, reports Corporate Counsel.
William Sorin has already spent a year in prison for his role in stock option backdating at the company, making him the first corporate executive to serve time for options-related crimes.
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