Defense Firm's Ex-CFO Settles SEC Backdating Case

Law360, New York (May 12, 2009, 12:00 AM EDT) -- A federal judge has signed off on a consent decree between the U.S. Securities and Exchange Commission and a former Engineered Support Systems Inc. executive, putting to rest civil fraud charges stemming from an alleged $20 million options backdating scheme.

Judge Jean Hamilton of the U.S. District Court for the Eastern District of Missouri on Monday entered final judgment against Gary Gerhardt, the defense contractor's one-time chief financial officer, who will pay a civil penalty of $400,000 to resolve the claims.

Gerhardt is also banned from...
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