Financial Times FT.com

Options backdating probe hit by delay

By Brooke Masters in New York

Published: July 19 2007 22:00 | Last updated: July 19 2007 22:00

Investigations into allegations of stock options backdating are being delayed and could be undermined by turmoil in the US Attorney’s office in San Francisco, sources familiar with the probes say.

Prosecutors in San Francisco are probing options grants at dozens of companies, including Apple Computer, for possible criminal violations and handling the first criminal trial to spring from the issue, that of Gregory Reyes, the former chief executive of Brocade Communications.

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