David Kreinberg pleads guilty to two felonies in ongoing U.S. government probe into stock-options backdating. Charges stem from efforts at Comverse to backdate stock options to dates when stock was trading at historic lows. The charges also require restitution in an amount to be determined by the court at sentencing, currently estimated at $51 million. The SEC settled its civil charges against him under an agreement that requires him to pay $2.3 million in fines and bars him from practicing as an accountant.”]
Source: https://www.csoonline.com/article/2120974/former-comverse-exec-pleads-guilty-to-backdating.html