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Attorney's Office in Northern California has launched a series of investigations and in July issued criminal and securities fraud charges against two top executives at Brocade Communications. National concern about the practice has been spurred by a series of articles in the Wall Street Journal. Companies found to have practiced this could be forced to restate their earnings. District Attorney's Office has also issued several subpoenas in launching a criminal probe. The typical practice was to record a felicitously timed prior date as the grant date, such as the point when the stock had been at its lowest in recent months, instead of the date when the award was actually granted.He still lives in Atlanta, where his firm was based, and is a part-owner of the Atlanta Hawks.
Afterward Gearon collected .2 million, much of it in American Tower stock that has since more than tripled.Executive Compensation is one of the clearest ways to communicate a company’s priorities and values.Our Executive Compensation services range from strategy development to program review and benchmarking."It's a close call." James Taiclet, American Tower's CEO, says these agreements were put in place in 2001 when the international business didn't exist, and were done to provide Gearon and his team with the "incentive to take the risk" of building the business.He points out that Brazil and Mexico now account for 13 percent of the company's revenues and says "shareholders have benefited tremendously." He also says the agreements are "very thoroughly disclosed in the appropriate places." Not that investors seem to care about any of this. That has helped Gearon, who's sold stock worth million over that time period, grow his fortune even more.