The options backdating
In addition, and The Cheesecake Factory have announced their own, preemptive investigations. Stock options give the recipient the right to buy a share of a company's stock at a price called the strike price, which is equal to the value of the stock on a certain date.If, for example, the strike price is and the shares now trade at , each option would be worth .
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Meanwhile, Silicon Valley's top lawyers are scrambling to assuage their clients' fears, and the U. Security and Exchange Commission has said that the investigation will expand beyond technology companies to other publicly traded outfits.
Already, some companies have begun restating years worth of financial results.
(The options would be worthless if the stock fell to, say, .) Think of options as coupons you can sell.
If you have a coupon to buy a Ferrari for 0,000, and the market price of the car is 0,000, your coupon is worth ,000.
Also, some companies have independently confirmed that they've been contacted by federal investigators.