Federal investigations into options backdating at more than 140 companies, meanwhile, have kept executive compensation on the national agenda.

Neither do Markel's shareholders have to worry about options backdating scandals at the company.

While options backdating is not always illegal, many options in corporations are granted to upper management.

Another public perception is that options backdating stems from executive corruption.

He was the subject of profile in Business Week for his contribution to uncovering options backdating scandals.

Folks in Silicon Valley like to say that options backdating was a way to retain employees during the boom.

Which is also why Apple's whole approach to the options backdating scandal has been so misguided.

Hedge funds don't do deep dives into options backdating just to satisfy their curiosity or to gain justice.

But lots of other chiefs have lost their jobs because of options backdating, and several have even been indicted.

As a result of options backdating, according to the suit, Brocade's expenses were understated.