Options Probe Costs Another Executive His Job

Law360, New York (March 8, 2007, 12:00 AM EST) -- The president and chief executive officer of Cirrus Logic Inc. has resigned, becoming the latest casualty in the stock option backdating scandal.

David D. French quit his job after the company’s investigation into options practices led it to commit to restating numerous financial statements and record an expense of up to $24 million.

Cirrus said Wednesday that an internal investigation found that French was “significantly involved in the grant approval process for certain grants and that he influenced the grant process with a view toward the...
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