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.
The company also said its board has appointed a special subcommittee of independent directors to conduct an internal review of the companys historical stock-option grant practices. 25 the company said it appears likely that actual measurement dates for certain historical stock-option grants will be found to differ from the recorded grant dates for such awards.
The company also said it will restate several years of past results to adjust accounting for two option grants in 20.
The company said it would restate its financial statements for 2005 and first quarter of 2006.(Headlines)The San Jose, Calif., software company on Oct.(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 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.Here's a look at companies that have come under scrutiny for past stock-option grants and practices.THIS SCORECARD WAS LAST UPDATED IN SEPTEMBER 2007 AND IS NO LONGER BEING UPDATED.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 2007.26 said it expects to record noncash charges on options dating, cutting into net and operating income, with "material" results for some periods going back to 2000 after completing its stock-option backdating review.(Headlines)The Cambridge, Mass., biotechnology company disclosed on Aug.10, 2006 that it is being investigated by the SEC for alleged options backdating.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 .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.On July 3, 2007, the company announced it received notice from the SEC staff that the staff had completed its investigation and doesn't intend to recommend any enforcement action by the SEC. 3, 2006, the Cupertino, Calif., computer maker said it will delay filing quarterly results and will likely restate past results after discovering more "irregularities" as part of an internal probe of stock-option grants going as far back to 1997. 29, 2006 that CEO Jobs had recommended the selection of some favorable stock-option grant dates, but didn't personally benefit.In June, Apple said "one of the grants in question" was made to CEO Steve Jobs. 4, the company said its internal investigation had found Jobs was aware of options backdating but didn't benefit from the practice. prosecutors are investigating Apple's options practices. It also said it will restate financial data going back to 2002 and take an million charge.