SEC Broadens Stock Options Probe

Law360, New York (July 11, 2006, 12:00 AM EDT) -- As the U.S. Securities and Exchange Commission’s industry probe into options backdating gathers steam, the regulator opened informal investigations into two more companies this week, marking nearly half a dozen companies the agency has targeted in the past month over the practice.

New York entertainment software company Take-Two Interactive Software Inc. said Monday it plans to fully cooperate with the SEC’s investigation into stock options grants dating back to January 1997 and is also conducting an internal investigation.

That news was followed by Apollo Group Inc.’s...
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