I think Lee identified a small number, but definitely some of them, that were lying about the date.

我想李指的只是一小部分公司,但是在期权发行日上做手脚,这种事情是绝对存在的

耶鲁公开课 - 金融市场课程节选

He did the --he found out who they were, using similar methods to Lee's and profited from it.

莱德利夫找出了那些使用,李所描述的方法并且从中赢利的公司

耶鲁公开课 - 金融市场课程节选

Lee concluded that companies were fraudulently backdating options.

所以李得出结论,公司以欺诈形式倒签期权

耶鲁公开课 - 金融市场课程节选