Brooks Automation Settles SEC Backdating Suit

Law360, New York (May 20, 2008, 12:00 AM EDT) -- Brooks Automation Inc. has struck a deal with the U.S. Securities and Exchange Commission that the company says completely resolves the commission's investigation into Brooks Automation's stock-option-granting practices.

On Monday, the SEC filed a complaint in federal court in Boston alleging that an illegal stock options backdating scheme, which included Brooks Automation's former President and Chief Executive Robert J. Therrien backdating several option grants from at least 1999 through 2001, led to the company filing inaccurate financial statements through 2005.

Brooks Automation agreed to settle the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.