Kb homes and backdating

Prosecutors had asked for a term of at least six years in prison.

The probe found that no other senior executives had a role in the backdating scheme.Earlier, a lawsuit filed against the same parties alleged they fraudulently inflated sales prices of KB homes in Arizona and Nevada.Pw C accused of sharing confidential information [economia] Watchstone has accused Pw C of “inducing breach of contract” and “unlawful means conspiracy” against the Big Four firm.A stock option allows an employee to purchase a company’s stock at a preset price at a future date.Karatz retroactively tied the exercise price of his options to dates when the stock was selling for a low price, which increased his profit when he sold the shares.

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The maneuver is legal if it is properly accounted for and disclosed to investors.

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