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CANADALAND

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The Arrogance of Justin Bieber

Jim Balsley and Mike Lazarus are accused of backdated stock options. They changed the documents in a way that benefited them, but also lots of other executives. This is a securities violation by billionaires. So it's not going to be a criminal matter, but it was pursued and then it was settled with a hefty payoff. The idea that anybody could come take it from them, I think wasn't contemplated. And perhaps there was also an arrogance to them.

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