September 8, 2010
Court Uses Sarbanes-Oxley to Clawback Executive Compensation
– Broc Romanek, CompensationStandards.com
A few months ago, the SEC issued this litigation release to note that the US District Court for the Northern District of California had, among other things, ordered forfeiture of bonuses and stock sales pursuant to Section 304(a) of the Sarbanes-Oxley Act against Carl Jasper, the former CFO of Maxim Integrated Products, for his role in a fraudulent stock options backdating scheme.