Ex-Monster CEO Cuts A Deal In Backdating Case

Law360, New York (January 23, 2008, 12:00 AM EST) -- The founder of the online employment site Monster Worldwide Inc. has made a deal with federal prosecutors in the stock options backdating case pending against him, inking a deferred prosecution agreement that will allow him to escape jail time.

In an agreement made public on Wednesday, the government said that it would drop its case against Andrew McKelvey in 12 months if the former Monster CEO abides by the terms of the deal.

Prosecutors said that McKelvey's poor health prompted the negotiation of the agreement. McKelvey,...
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