Read The Recorder‘s roundup of the stock-option backdating scandal. There won’t be a test later … but there might be a subpoena.
Pendrey said he couldn’t say more about what stock Berry sold, but did say that “Berry certainly benefited by increased value of the companies.”
With in-house and outside lawyers frequently consulted on options matters, attorneys have been heavily scrutinized by the SEC and criminal prosecutors.
In New York, the former GCs of Comverse Inc. and Monster have pleaded guilty to criminal backdating charges. And in San Francisco, former McAfee Inc. GC Kent Roberts is awaiting a criminal trial.
Other lawyers under SEC investigation include numerous in-house attorneys as well as Christopher Mitchell, an ex-Wilson Sonsini partner who, according to people familiar with the probe, was fired from the firm last year after one of his clients, Sanmina-SCI Corp., blamed him for its backdating problems.
