Michael Shanahan Sr., the former CEO of Engineered Support Systems, Inc., pleaded guilty last week to one charge related to backdating company options. According to the St. Louis Business Journal, he faces 15 to 21 months in prison and must pay $7.87 million to his former company. Shanahan Sr. reportedly admitted to signing falsely dated stock option award letters.
Read the St. Louis Business Journal article
[…] order on a motion for summary judgment filed in SEC v. Shanahan. As previously discussed here, Michael F. Shanahan, Sr., the former CEO of Engineered Support Systems, Inc., pleaded guilty in […]