Corporate
Sep. 28, 2010
SEC Fails to Prove Fraud
The Securities and Exchange Commission failed to convince a jury that the former controller of Embarcadero Technologies Inc., a San Francisco software company, committed fraud when he backdated stock options at the company earlier this decade.
Daily Journal Staff Writer
The Securities and Exchange Commission failed to convince a jury that the former controller of Embarcadero Technologies Inc., a San Francisco software company, committed fraud when he backdated stock options at the company earlier this decade. After a three-week trial, a federal jury Friday rejected the SEC's fraud claims, although it did find that defendant Michael C. Pattison failed to implem...
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