Ex-Monster General Counsel Accused Of Fraud

Law360, New York (February 15, 2007, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has filed a lawsuit against the former general counsel of online career database Monster Worldwide, alleging that he participated in a long-running scheme to backdate stock options.

The agency has alleged that Myron Olesnyckyj helped secretly backdate options granted to Monster’s top executives and directors, including himself.

Olesnyckyj allegedly changed the dates on financial documents to create grant dates on which the stock price was lower than the actual grant date.

“By backdating the vast majority of the stock options...
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