Investigation Into Stock Options Scandal Widens

Law360, New York (May 23, 2006, 12:00 AM EDT) -- More companies are finding themselves caught in the spotlight as prosecutors, regulators and corporate board committees have become increasingly scrupulous in recent months in their investigations into stock-options backdating.

Federal prosecutors have served at least nine companies with subpoenas over options-timing, and at least a dozen companies have said the U.S. Securities and Exchange Commission is looking into their options grants. The SEC has also contacted a number of other companies in its inquiry.

The government cast its net on another group of U.S. companies just...
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