BACKDATED STOCK OPTIONS
 

Shapiro Haber & Urmy LLP Now Investigating Stock Options Backdating Practices By Boston Communications Group

Shapiro Haber & Urmy LLP is currently investigating stock options backdating practices at over 100 companies, including Boston Communications Group.

Regarding Boston Communications Group, as reported in The Wall Street Journal, "The Bedford, Mass., software company said July 21 that the SEC staff contacted it by telephone regarding an informal inquiry relating to option grants made between 1998 and 2002. The board has retained outside counsel to help review its historical option grants practices. The company said it may need to record additional noncash charges for stock-based compensation expense related to those prior periods.  On October 12, Boston Communications said Karen Walker, chief financial officer, has resigned in connection with option-granting issues. EY Snowden, chief executive officer and president, will no longer serve in those roles, moving instead to the non-executive chairman position. Alan Bouffard will accelerate his retirement and leave the general counsel position immediately. The company also said it will need to restate certain past results to record additional as yet undetermined non-cash charges for stock-based compensation expenses.”

If you are a current stockholder in Boston Communications Group and would like to learn about your legal rights in seeking to remedy improper options backdating at the company, please click here or call 800-287-8119 to contact our paralegal, Victoria Bird.  Our initial consultation and case assessment will be done at no charge or obligation to you.

Shapiro Haber & Urmy LLP is a leading force in bringing lawsuits on behalf of shareholders who own stock in corporations implicated in the rampant and ongoing stock options backdating scandal.  Led by attorneys Edward F. Haber and Michelle H. Blauner, our firm has already filed numerous cases, in both state and federal courts, concerning the improper backdating of stock options granted to officers, directors, and executives who appear to have used backdated stock options to create for themselves tens, or even hundreds, of millions of dollars in profit and unrealized gain at the direct expense of their corporations.

To learn more about our efforts targeting unlawful corporate stock options practices at corporations nationwide, please click here to view our main stock options backdating webpage, which contains detailed explanations of stock options, option backdating, and why option backdating can be illegal.  Also featured are complaints filed by our firm in other stock options backdating cases, as well as a full list of all the corporations we are currently investigating.