CNET Discloses SEC, DOJ Probes

Law360, New York (August 3, 2007, 12:00 AM EDT) -- Online publisher CNET Networks Inc. disclosed Wednesday that it is the subject of two federal investigations into its stock-option granting practices.

In a filing with the U.S. Securities and Exchange Commission, CNET said it learned this May that the SEC had issued a formal order of investigation and served subpoenas on some of its former executives. The SEC first alerted CNET that it was conducting an informal probe in May 2006.

The San Francisco-based company added that it had received a grand jury document subpoena from...
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