BACKDATED STOCK OPTIONS
 

Shapiro Haber & Urmy LLP Now Investigating Stock Options Backdating Practices By Home Depot

Shapiro Haber & Urmy LLP is currently investigating stock options backdating practices at over 100 companies, including Home Depot.

Regarding Home Depot, as reported in The Wall Street Journal, "The Atlanta home-improvement giant said June 23 that the SEC had initiated an informal inquiry into its option-grant practices. On June 16, the company said that in five instances prior to December 2000, the date of the meeting or resolution approving an option grant was later than that used to determine the exercise price. The company estimates that the unrecorded expense over the affected period was not more than $10 million. As a result, Home Depot said it doesn't plan to restate any prior financial statements. On Sept. 6, Home Depot said that the Office of the U.S. Attorney for the Southern District of New York has also requested information on options.  On Dec. 6, 2006, Home Depot said an internal investigation found that it routinely backdated stock options for 20 years starting in 1981 and as a result it understated compensation expense by $200 million."

If you are a current stockholder in Home Depot 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.