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Applied Micro Circuits Corporation Message Board

  • courtneygb courtneygb Oct 28, 2006 11:48 AM Flag

    According to IR We Have The Votes

    According to prosecutors, Kreinberg and Alexander used fictitious names to generate stock options and then created a "secret slush fund" to evade the company's written plan on issuing them. Alexander then personally doled out the options, with Kreinberg's advice and consent, to the employees he favored. Compounding the scheme were the misleading statements made about the options in the company's public filings, including its proxy statements and annual reports. The general counsel, who was also in on the scheme, drafted and signed off on the reports.

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