Monster backdating wapmuk rudating
Monster said the settlement reflects the extensive cooperation its new management team offered to the SEC.
"This is an important step in closing an unfortunate chapter in the company's history and putting the issue firmly behind us," Chairman and Chief Executive Sal Iannuzzi said in a statement.
He was found guilty by a jury in May, 2009 in the United States District Court for the Southern District of New York.
Law360 (January 12, 2009, AM EST) -- A judge has reinstated a claim of securities fraud against former Monster Worldwide Inc. Treacy in a criminal suit over stock options backdating, despite Treacy’s contentions that the count is time-barred and potentially violates the double jeopardy clause of the Fifth Amendment.
Pastore was en route to a satellite office in Maynard, Massachusetts, on Monday and could not be reached for comment.
Prior to Monster, Pastore worked at Cigna Healthcare in various areas, including, operations, sales and marketing, technology and customer services.
The fine is less than the amount previously accrued by the company for a settlement.
He will remain on the company’s board of directors, where he has been elected as chairman emeritus.
Mc Kelvey is being succeeded by William Pastore, a relative newcomer to the job board industry who joined the company as COO in October 2002.
Pastore was promoted to president and COO in February.
Andrew Mc Kelvey, the founder and former chief executive of Monster, last year agreed to pay the company more than million as part of a settlement into backdating claims. This material may not be published, broadcast, rewritten or redistributed.
Mc Kelvey also settled charges from the SEC and federal prosecutors, agreeing to pay a penalty of 6,000.