Chipmaker Takes Charge For Backdating

Law360, New York (January 30, 2007, 12:00 AM EST) -- More than six months after the U.S. Securities and Exchange Commission launched an investigation into its stock options granting practices, KLA-Tencor Corp. restated its financial reports and said that its past practices violated its own policies.

The company said in a filing with the SEC Monday that a special committee of its board of directors found that some of the company’s options – primarily those granted between July 1997 and June 2002—had been retroactively priced for all employees.

KLA-Tencor said it recorded a pre-tax, non-cash stock-based...
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