Donald Drakeman, the chief executive of New Jersey biotech company Medarex Inc., resigned on Monday, done in by backdated executive stock options that have sparked a shareholders suit, a grand jury subpoena and an SEC investigation. Medarex joins a growing list of businesses, including McAfee Inc. and Monster Worldwide Inc., where a CEO has stepped down in the wake of stock option-related litigation and regulatory investigations.
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Posted on Wednesday, November 8th, 2006. Filed under: Business Law, Law Misc
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