Saturday, August 04, 2007

Backdaters Catch the I.R.S.'s Eye


Its open season on stock option backdaters, and federal securities authorities have a new suspect in their sights.

A former chief executive of Brooks Automation, Inc., a Chelmsford, Massachusetts, software company, was slapped with a criminal tax evasion charge Wednesday, the same day he was charged with a civil complaint that he manipulated stock options between 1999 and 2005, fraudulently gaining more than $10 million.

Both charges were filed Wednesday against Robert J. Therrien, of Osterville, Massachusetts, who is also a former president of the company, which makes equipment used in microchip factories.

See full Article.