litigation stock options

Former Comverse Chief Flees

New York Times: F.B.I. Calls Ex-Comverse Chief a Fugitive, and Casts a Wide Net. The hunt for Jacob Alexander, known as Kobi, was stepped up yesterday after the Federal Bureau of Investigation declared him a fugitive and said agents were seeking his arrest.

Earlier this month, the Department of Justice announced that three former executives of Comverse Technology Inc. (“Comverse”), a publicly-held computer software company, were charged for their roles in orchestrating a long-running scheme to manipulate the grant of millions of Comverse stock options to themselves and to employees. Former Chief Executive Officer Jacob “Kobi” Alexander, former Chief Financial Officer David Kreinberg, and former General Counsel William F. Sorin allegedly orchestrated the scheme by fraudulently backdating the options and operating a secret stock options slush fund.

I’ve added Comverse Technology contracts to the website, including the Employment Agreement between Comverse Technology Inc. and Kobi Alexander.