Tracking Options Backdating
CFO.com reports here that so far over 60 companies have announced accounting restatements in connection with options timing issues, totaling $5.2 billion in accounting charges. Another 24 companies have announced they will have to restate earnings, but have not yet announced the amount of any charges.
The scandal has also cost over 40 executives their jobs. The WSJ.com has a separate page (here) where they are keeping an updated list of the executives' ousters resulting from the backdating scandal.
The D & O Diary's list of options backdating lawsuits (here) has been updated today. The number of options timing related shareholders' derivative suits now stands at 92. The number of options timing related securities fraud lawsuits remains at 20. The Stanford Securities Class Action Clearinghouse has added a box to its home page (here) in which it is also tracking the number of options timing related securities class action lawsuits; its tally also stands at 20.