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The Wall Street Journal's probe into the corporate practice of backdating stock options for business executives captured a Pulitzer Prize in the public service category, Columbia University announced Monday.
It was one of two Pulitzer Prizes for the national business publication. It also won in the international category for its reports on China's booming capitalism and adverse conditions it has created ranging from inequality to pollution.
The backdating options stories led to federal investigations of 140 companies. At least 70 top executives lost their jobs and 10 former executives are facing federal or state criminal charges related to the scandal.
Other finalists in the public service category were the Birmingham (Ala.) News for general assignment reporter Brett Blackledge's expose on cronyism and corruption in the state's two-year college system and The Washington Post for its examination of waste and abuse in the nation's farm subsidy system.
Copyright © 2008 Donald W. Reynolds National Center for Business Journalism