Monster ex-CEO settles claims
From Times Wire Services
Andrew McKelvey, the former chief executive of Monster Worldwide Inc., will relinquish much of his voting stake in the online job-listings company and pay back more than $8 million as part of a settlement of claims that he improperly backdated employee stock options.
Monster’s announcement of its settlement came the same day McKelvey settled separate options backdating claims alleged by the Securities and Exchange Commission and federal prosecutors. The SEC settlement calls for him to pay a separate penalty of $276,000.