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Activision Sued By Shareholder Over Stock Options

by Rainier on July 19, 2006 @ 4:50 a.m. PDT

A regulatory filing with the SEC reveals that Activision has been sued by one of its shareholders over its issuance of stock options, in particular backdating, a practice that involves changing the date of a stock option from the day it was actually issued to an earlier date, usually when the stock was trading at a lower price, which makes the option more valuable. As many as sixty companies are currently under investigation for similar practices.
A regulatory filing with the SEC reveals that Activision has been sued by one of its shareholders over its issuance of stock options, in particular backdating, a practice that involves changing the date of a stock option from the day it was actually issued to an earlier date, usually when the stock was trading at a lower price, which makes the option more valuable. As many as sixty companies are currently under investigation for similar practices.
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