Giving retroactive value to purchases from the earlier date.
In the context of corporate governance, the illegal practice of setting the date of options awarded as part of executive compensation to a period when the stock price was very low (rather than setting the date of the options on the date the award was made).
The “Panama Papers”, published Sunday by a coordinated group of international media outlets, tell stories off offshore tax avoidance and potential official corruption based on thousands of internal documents from Panamanian law firm Mossack Fonseca.
The leaked Mossack Fonseca files show the law firm regularly offered to backdate documents for clients, according to a report by the International Consortium of Investigative Journalists, a not-for-profit that coordinated the expose.
As sole lead counsel, Robbins Geller attorneys obtained a 0 million settlement for investors, resolving accusations that Pfizer misled investors about an alleged off-label drug marketing scheme.
This exceptional result was achieved after five years of hard-fought litigation against the toughest and the brightest members of the securities defense bar by litigating this case all the way to trial. The settlement represents, on a percentage basis, the largest recovery ever achieved in an MBS purchaser class action.
For example, if one signs a contract on February 1, one may backdate it to January 31.
Backdating can involve assigning an event “to a date prior to that of actual occurrence” or dating a document “to reflect an event that occurred prior to execution.” The propriety of backdating, says law professor Jeffrey L.
Kwall of Loyola University of Chicago’s law school, depends largely on which of the two actions has occurred.
For instance, one may backdate an insurance claim if there was an unavoidable delay between the date the insured event occurred and the day the claim was made.
The practice of allowing a mutual fund shareholder to use previous purchases of the fund's shares so as to qualify for reduced commission charges on subsequent purchases.