Defendant Name:
Monster Worldwide, Inc.
Defendant Type:
Public Company
Document Reference:
2009-113
Document Details
Legal Case Name
SEC v. Monster Worldwide, Inc.
Document Name
SEC Charges Monster Worldwide Inc. for Backdating Scheme
Document Date
18-May-2009
Document Format
Civil Proceeding
Case Number
09-cv-04641
Federal District Court
New York, Southern District of New York
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Enjoinment
Cooperation Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$2,500,000.00
Shared: