Ex-Embarcadero Exec To Pay In $14M Backdating Suit

Law360, New York (February 24, 2011, 1:42 PM EST) -- A magistrate judge Wednesday ordered Embarcadero Technologies Inc.’s former controller to pay more than $124,000 in disgorgement and civil penalties for helping conceal some $14 million in backdated stock options.

Magistrate Judge Edward Chen of the U.S. District Court for the Northern District of California ruled that Michael Pattison would shell out $74,446 in ill-gotten gains from the backdating scheme, on top of a $50,000 fine, bringing to a close the U.S. Securities and Exchange Commission’s civil suit against the defendant.

Pattison, whom a jury found...
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Case Information

Case Title

Securities & Exchange Commission v. Sabhlok et al


Case Number

3:08-cv-04238

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Edward M. Chen

Date Filed

September 9, 2008

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