Friday, September 22, 2006

Cablevision Gives Stock Options to Dead Guy

The U.S. Attorney's Office for the Eastern District of New York is investigating Cablevision Systems Corporation, apparently, for good reason. The company granted options to Vice Chairman Marc Lustgarten after he had died and then backdated the documents to before he died. As a result, Lustgarten's estate is entitled to exercise the options at will since he's dead.

Something stinks in Cablevision's management.

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