Boston Massacre

The options backdating scandal claims two more executives, as Boston Communications (BCGI Quote - Cramer on BCGI - Stock Picks) replaces its CEO and finance chief.

The Bedford, Mass., cell phone billing service says chief Ed Snowden and CFO Karen Walker have stepped down amid a review of the company's stock option grants.

The company also says it has found irregularities with its stock option dates and will have to restate its financials, but it could not be specific about what time period the book-cleaning would entail.

Snowden will swap jobs with chairman Paul Tobin, and the company has hired financial consultant Thomas Doherty to take over the CFO job temporarily.

Also out, effective immediately, is company lawyer Alan Bouffard, who is "accelerating his retirement."

The company says it has launched a search to find a new CEO and CFO.

The news comes as executives at CNet (CNET Quote - Cramer on CNET - Stock Picks) and McAfee (MFE Quote - Cramer on MFE - Stock Picks) stepped down Wednesday amid stock option backdating inquiries.

Boston Communications shares rose 3 cents to $2.03 in early trading Thursday.