Without proper communications management, the scandal could have caused lasting damage to the corporate brand, abandonment by customers, shattered employee morale and loss of key employees.
OBJECTIVES: Campaign objectives included: It would be crucial to launch a successful communications campaign that portrayed Mercury as a company with strong products, earnings and customers to quell the concern and skepticism of each of these groups.
Among other things, the SEC charged that Schroeder "repeatedly engaged in backdating after becoming CEO in 1999," including "pricing large awards of options to himself" that "were never disclosed to KLA-Tencor’s shareholders." The SEC alleged that he even made one award in 2005, "after he received advice from company counsel that retroactively selecting grant dates without adequate disclosure was improper." KLA-Tencor agreed to the entry of a permanent injunction, without admitting liability.
The plaintiffs first filed a civil securities class action complaint against the company and certain of its officers and directors (including Schoeder) on June 29, 2006, in the United States District Court for the District of California (about which refer here).
In any event, I have added the KLA-Tencor settlement to my table of options backdating settlements, dismissals and denials, which may be accessed here.
“Why I Did Not Go To Jail” Michelle (note: her name has been changed) comprehensively understood software accounting, business models, and best practices, and she was beloved by Wall Street in no small part due to her honest and straightforward reporting of her previous company’s business.
Corbett Report members are encouraged to log in to the site and leave your nomination for “Fake News Story of 2017” in the comments section below.
Ask any CIO and they'll likely tell you one of their greatest fears is a data breach, and rightfully so.So we all saw Trump’s “fake news awards” last week and enjoyed the stupidity of the dinosaur fake news establishment being skewered once again.But #fakenews is not limited to bogus stories about Trump.Subsequently, the company's CEO and CFO resigned after the probe, which set off a chain of events leading to Mercury's NASDAQ delisting, a 7 million writeoff and announcement of an acquisition by Hewlett-Packard Co.The Ogilvy PR campaign set out to restore the company's reputation, emphasizing its cooperation with regulators and efforts to straighten out the options problems while highlighting Mercury's continued strong business performance.STRATEGY: To achieve these objectives, Ogilvy PR developed communications plans to execute the following strategies: RESEARCH/PLANNING: To determine the best strategies for handling the crisis, Ogilvy PR researched other technology companies that have gone through financial crises, including Computer Associates, Brocade and Oracle.