Interesting profile of Peter Solmssen, Siemens newish general counsel and all around overseer of the company's anti-corruption efforts. Some re-hash here of Siemens recent travails, but also some decent handicapage of how Solmssen may fare in keeping the massive conglomerate on the straight and narrow. All via the, sadly soon to be discontinued, International Herald Tribune.

-- MDT

Labels: general counsel, General Re, Peter Solmssen, Siemens

Kent Roberts got the boot from computer security software maker, McAfee about nine months ago when it came to light that Roberts had misled both the SEC and McAfee itself regarding his handling of stock options grants. Roberts is now facing seven criminal fraud counts in relation to his actions.

The McAfee case is one of the longer running of the backdating-related cases the SEC is currently pursing. The options grants in question go back to 2000. McAfee has already paid a $50 million fine to the SEC and is ultimately expected to see a financial restatement in the range of $100-150 million. Roberts, if convicted to do up to twenty years and pay up to $5 million in fines.

More on the Kent Roberts indictment via Mercury News.

-- MDT

Labels: backdating, general counsel, indictment, Kent Robert, McAfee, SEC, stock options

Typical great stuff from Law.com, this one a piece from Susan F. Friedman and the New York Law Journal. Friedman is a senior vice president of the Employed Lawyers Product Practice of Marsh. Not shockingly she recommends good insurance. But good corporate governance, that's important too. Read on.

-- MDT

Labels: backdating, corporate governance, general counsel, stock options, Susan Friedman