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The California Public Employees’ Retirement System will ask companies whose stock option grants are under federal investigation for more data on their finances and executive pay.
The $207-billion fund wants the companies to disclose results of all investigations into the possible backdating of stock options, senior investment officer Christianna Wood said.
At least 24 companies have said federal officials are trying to determine whether they deliberately moved option grants back to dates when the stock price was lower, which would inflate the value of the options.
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