Caught Cashing In Expired Options, CEO Resigns

Law360, New York (August 1, 2006, 12:00 AM EDT) -- Embattled Brooks Automation Inc., a supplier for the semiconductor industry, has restated its earnings over a nine-year period by a whopping $64.5 million after an internal investigation found widespread “errors” in stock option grants.

Adding insult to injury, the company’s fallen chief executive was found to have signed false loan documents to cash in expired stock options in 1999, according to a recent filing with the U.S. Securities and Exchange Commission.

The fraud generated $5.8 million for former CEO Robert Therrien, who stepped down in March...
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