Not Guilty Plea to Securities Fraud

1 decade 2 years 10 months ago Monday, July 30 2007 Jul 30, 2007 Monday, July 30, 2007 2:50:51 PM CDT July 30, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
ST. LOUIS (AP) - St. Louis businessman Mike Shanahan Senior, and his son, Mike Shanahan Junior, plead not guilty today to charges they illegally backdated stock options. Federal regulators accuse the men of backdating stock options in a scheme they say enriched executives and board members by nearly $20 million. Michael Shanahan Senior was the chief executive of Engineered Support Systems, a company that supplied military support and equipment. The company was sold last year. He is also the former owner of the St. Louis Blues hockey team. Shanahan Junior was a member of the board of directors at Engineered Support.

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