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Prison sentence in backdating scandal

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From Bloomberg News

Comverse Technology Inc.’s former general counsel, William Sorin, was sentenced Thursday to a year and a day in prison for participating in an alleged stock-option backdating scheme with former Chief Executive Jacob “Kobi” Alexander.

He is the first person to be sentenced in a nationwide government crackdown on option backdating, his lawyer said. Alexander is fighting extradition from Namibia, where he moved after he was charged.

Sorin, 58, agreed in January to pay $3.1 million to settle a Securities and Exchange Commission lawsuit. Comverse’s ex-finance chief, David Kreinberg, pleaded guilty to backdating charges and awaits sentencing.

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