US - California treasurer Phil Angelides has called on the California Public Employees' Retirement System (CalPERS) to use any means necessary to recover losses incurred from improper backdating of option grants - which over inflate executives' pay and leave shareholders to foot the bill.
In recent weeks federal regulators increased probes into deceptive backdating and reporting of option grants to executives at a number of large US companies. “Such practices enrich executives at...
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