Start Backdating investigation

Backdating investigation

(Headlines)On June 21, 2006, Altera said its special committee has reached a preliminary conclusion that actual measurement dates for certain option grants issued between 19 differed from the recorded grant dates, and that it expects to restate its financial statements for the fiscal years ended 1996 through 2005.

The company said prior to receiving the request, it did an internal review of all equity compensation activities since its February 1996 IPO, and said it "believes that there have been no unusual patterns in the timing or pricing of its equity awards and that there is specifically no evidence of backdating of option awards.

On June 1, 2007, Arthro Care said the SEC has completed its formal investigation of the company and that doesn't plan to recommend any enforcement action against Arthro Care.

On May 8, 2006, Altera said its board ordered an independent review of "historical stock-option practices and related accounting." The special probe followed a management review sparked by media reports that raised questions about options practices at other companies, Altera said. 16, 2006, the company said it completed its internal probe, found misdated options, sees restatement adjustments totalling $47.6 million pretax, and said its CFO was retiring. 20, 2007 the company said the SEC ended its probe of the company's stock-options practices and won't recommend any enforcement action.

(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.

The company added that it may face "significant tax liability" for prior years because it misapplied IRS rules.

On May 21, 2007 the company became current on late SEC filings and recorded, as a result of a restatement, for the fiscal years 1994 through 2005, pretax noncash compensation expense of $52.9 million.

The report, from a Lehman Brothers analyst, called the companys historical options-granting practices "highly questionable." On July 10, the company disclosed that it had received a letter from the SEC about an informal investigation into the companys stock-option grants. 3, the company said it will likely have to restate past results as a result of problems with past grants.

Its financial chief resigned, citing personal reasons. 14, 2006 the company a review found the company misdated certain stock option grants and that it found that some former officers may have covered errors in the grant approval process.

(Headlines)The Dallas technology outsourcer acknowledged May 10, after a preliminary internal probe, that it had issued executive stock options that carried "effective dates" preceding the written approval of the grants.

ACS said it plans a charge of as much as $32 million to rectify its accounting related to the grants. Edwards signed separation agreements with ACS that will allow them to remain with the company during a transition period ending June 30, 2007.

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.