The practice of manipulating stock options grants to make them more favorable has come back to haunt yet another round of high-tech executives. A former Monster Worldwide executive is expected to agree to a plea deal in New York Thursday, just a day after the founder of Take-Two Interactive Software pleaded guilty to a state felony related to backdating.

The U.S. Attorney's Office in Manhattan would not comment specifically on a Wall Street Journal report that Monster's former general counsel, Myron Olesnyckyj, will cooperate with its investigation into stock options practices at the company. However, a spokeswoman confirmed that there will be a court proceeding Thursday related to stock options at 12:45 PM ET and the office expects to release more information afterwards.

Monster declined to comment beyond releasing the following statement: "The Company terminated this individual some time ago and it is inappropriate to comment on the developments. The Company will continue to cooperate with the government in this ongoing investigation."

The U.S. Securities and Exchange Commission (SEC) Wednesday said that it simultaneously filed and settled civil charges against Ryan Brant, the former CEO and chairman of Take-Two, a video and computer game publisher and distributor, which he founded.

The SEC alleged that during a seven-year period, Brant enriched himself and others by granting undisclosed, "in the money" stock options to himself and to other Take-Two officers and employees. Brant did not admit or deny the allegations, the SEC said, but agreed to a settlement that bars him from serving as the officer or director of a public company. He also agreed to pay about $6.3 million, comprised of what the SEC called "ill-gotten gains" of more than $4 million plus $1 million interest, plus a $1 million civil penalty. The settlement must still be approved in court.

A Take-Two representative said only that Brant is no longer an employee, and it would not be appropriate to comment on his actions as a private individual.

Meanwhile, middleware vendor BEA Systems Wednesday announced the conclusion of its stock-option review. The review won't cost any high-level executives their job, but will cost a number of them money. Several former and current executives and directors have agreed to repay the company after-tax profits they realized on mispriced options.

The IDG News Service is a Network World affiliate.