SEC Launches Formal Inquiry Into KLA-Tencor

Law360, New York (February 9, 2007, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has opened a formal probe into KLA-Tencor Corp.’s stock options granting practices, continuing the company's backdating woes.

In a financial filing with the SEC Friday, the company said that it learned of the investigation on February 2, and that it has cooperated fully and intends to continue doing so.

The U.S. Attorney’s Office for the Northern District of California also has an ongoing inquiry into the chip maker’s stock practices. The company faces a number of shareholder derivative and class...
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