Securities Law
Former COO of Monster is Charged With Backdating Violations
Posted May 1, 2008, 07:22 am CDT
By Debra Cassens Weiss
The former president and chief operating officer of Monster Worldwide has been charged with securities fraud and conspiracy for alleged backdating violations.
The indictment claims the executive, James Treacy, conspired to backdate stock options and personally benefited from backdating, the Wall Street Journal reports (sub. req.). His lawyer, Evan Barr, said Treacy is “completely innocent of these charges.”
The former general counsel of the job recruitment website, Myron Olesnyckyj, pleaded guilty last year to criminal charges related to backdating, the New York Times reports. Former Monster CEO Andrew McKelvey, also was charged with backdating violations, but the prosecution has been deferred because of his poor health.
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