Home Depot Backdated Options For Over 20 Years

Law360, New York (December 7, 2006, 12:00 AM EST) -- Home improvement giant Home Depot said Wednesday that company officials backdated stock option grants for about 20 years, and that the practice cost it about $200 million in unrecorded expenses.

Home Depot Inc., which said it’s cooperating with inquiries from the U.S. Securities and Exchange Commission and the U.S. Attorney for the Southern District of New York, said that its management meant to do no harm.

A subcommittee of the company’s Audit Committee undertook the internal review in August with independent outside counsel, Hogan & Hartson...
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