Xilinx Cheers As SEC Drops Informal Backdating Probe

Law360, New York (November 30, 2006, 12:00 AM EST) -- The U.S. Securities and Exchange Commission on Thursday dropped its informal probe into stock options-granting practices at semiconductor firm Xilinx Inc., swayed by a recent presentation by outside counsel Skadden Arps, the company said.

In terminating the probe, which was launched in June, the SEC said it had “no intention” of taking further action against the San Jose, Calif.-based company.

Xilinx was one of more than 100 companies under scrutiny by the agency over the backdating scandal that has haunted many high-tech firms.

A Xilinx spokesperson...
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