SEC Probe Of Options Backdating Yields First Settlement

Law360, New York (November 16, 2005, 12:00 AM EST) -- Chip maker Analog Devices, Inc. has settled an investigation into its stock option pricing with the Securities and Exchange Commission amid closer scrutiny of the controversial practice of backdating options.

As part of the settlement, Analog Devices will reprice options granted to CEO Jerald Fishman and other executives and will pay a $3 million civil penalty.

Fishman agreed to pay a civil penalty of $1 million and will also pay a disgorgement related to options granted in specific years.

The SEC inquiry into Analog Devices was...
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