Biomet’s CFO Resigns

More backdating:

Biomet Inc. said Friday its chief financial officer and another executive resigned after an internal inquiry found accounting errors related to stock option grants over the past 11 years.
The company said it will have to restate its most recent annual report to reflect the disparity in the recorded expenses for stock option grants and the actual expenses for the grants, which totals about $50 million over 11 years, according to preliminary findings.

Posted by on March 31st, 2007 at 8:29 pm


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