Monday, March 26, 2007
Two former executives were indicted today on securities fraud charges. Gary Gerhardt, former CFO of Engineered Support Systems Inc., was indicted in connection with allege backdating of stock options from 1996-2002. See WSJ, Engineered Support Ex-CFO Is Indicted in Options Case. David Stockman, former CEO of Collins & Aikman, was indicted on charges related to alleged improper accounting of rebate transactions. See WSJ, David Stockman Is Indicted In Securities-Fraud Case.