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Former Execs Defy SEC In Backdating Probe

Law360 (October 16, 2006, 12:00 AM EDT) -- Three former executives at Engineered Support Systems Inc. have reportedly refused to cooperate with a U.S. Securities and Exchange Commission investigation into the alleged backdating of options.

According to court documents filed by the SEC’s Midwest regional office, former Engineered chairman and co-founder Michael F. Shanahan Sr., his son Michael F. Shanahan Jr. and his son-in-law David Mattern have not responded to a July 28 subpoena.

At a meeting in August, the three executives furthermore were instructed by their attorneys not to answer nearly all of...
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