The SEC stated: "From at least 1997 through April 2003, certain executives and employees of Monster, a New York employment company, participated in a fraudulent stock option backdating scheme. As a result of this conduct, Monster's periodic filings and proxy statements falsely portrayed Monster's stock options as having been granted at exercise prices equal to the fair market value of Monster's common stock on the date of the grant, when, in fact, Monster was granting in-the-money options. "

The SEC stated that: "[It] charged employment search provider Monster Worldwide, Inc. for its multi-year scheme to secretly backdate stock options granted to thousands of Monster officers, directors and employees. Monster agreed to pay a $2.5 million penalty to settle the SEC's charges that the company defrauded investors by granting backdated, undisclosed 'in-the-money' stock options while failing to record required non-cash charges for option-related compensation expenses."

On May 21, 2009, the Court issued a final judgment as to Defendant Monster Worldwide, Inc. stating: "Defendant Monster Worldwide, Inc. . . . consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."