Intentional stock backdating
(Headlines)The operator of communications towers said May 23 it had received a subpoena from federal prosecutors about its stock-option practices. On July 28, American Tower announced that an internal review has reached a preliminary conclusion that the actual measurement dates of certain stock-option grants likely differ from the recorded grant dates.
As a result, the company expects to record additional noncash charges. 23, the company said it will restate 2005 results as well as those from the first quarter of 2006 because the actual dates of certain stock option grants "likely differ" from the recorded dates. 16, the Chandler, Ariz., provider of semiconductor assembly and test services said it has identified occasions on which the measurement date used for option awards granted to certain employees was different from the actual grant date.
The Norwood, Mass., semiconductor maker said the request is for records dating from the year 2000 to the present.
Analog Devices reached a tentative settlement with the SEC in November 2005 related to grants. (Headlines)On June 19, the Phoenix education provider received a subpoena from the U. attorney for the Southern District of New York relating to stock-option grants.
("ACS"), a former Fortune 500 company in the business of providing business process and information technology services, alleging that during the period 1995 to 2006, ACS backdated stock option grants to its officers and employees and falsely denied that officers at the company had engaged in intentional backdating.
THIS SCORECARD WAS LAST UPDATED IN SEPTEMBER 2007 AND IS NO LONGER BEING UPDATED. Note: This list contains companies that have disclosed government probes, misdated options, restatements and/or executive departures as of Septmeber 2007.
The Santa Monica, Calif., videogame company said on July 28 that the SEC has asked the company for documents related to its stock-option grants as part of an informal inquiry.
It had previously said a preliminary review suggested no intentional backdating occurred and any charges were likely to be minor. (Headlines) (Options chart) The maker of gene-testing devices said on Aug 1 that an internal probe has uncovered "certain documentation lapses" in its stock options grant processes from 1997 through 1999, including one instance when the option grant date should have been recorded differently.
But Affymetrix said the review hasn't indicated a pattern of inappropriate options dating. 9, the company filed with the SEC to delay the submission of its second-quarter report because of a restatement to its financial statements for some options granted between 19.