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Alleged Backdating At Maxim Prompts SEC Probe

Law360 (June 8, 2006, 12:00 AM EDT) -- Stock-options grants and practices at circuit maker Maxim Integrated Products Inc. have drawn an informal inquiry from the U.S. Securities and Exchange Commission, according to a statement issued by the company.

The announcement from Maxim confirms suspicions from analysts, as well as earlier statements from SEC officials, that the options backdating scandal is indeed widespread and that regulatory investigations will continue to grow.

The probe comes on the heels of a shareholder derivative lawsuit against Maxim that targets the same alleged manipulation of share prices. It...
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