Word: stockings
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Corporations grant backdated stock options—opportunistically manipulated to be more profitable—to independent directors responsible for policing the activities of company executives, a new study sponsored by Harvard Law School found...
...study released yesterday, entitled “Lucky Directors,” showed that outside directors received stock options that were timed to make them more profitable than could be explained by chance...
According to Bebchuk—who also holds a PhD in Economics—the study shows that “favorable timing” is evident when looking at the stock option transactions of directors...
...study examined over 29,000 specific transactions in which public companies gave grants to outside directors, and determined that in over nine percent of the cases, the grant occurred when the stock price was at its lowest in a given month or a quarter...
...billion Amount in stock that investing guru Warren Buffett pledged in June to charity...