SEC

XM Seeking $120 Million to Support Deal with MLB

Authored by Mark Hefflinger on May 27, 2008 - 8:33am.

Washington - XM Satellite Radio (NASD: XMSR), the satellite radio provider awaiting government approval to merge with rival Sirius, disclosed in a filing with the Securities and Exchange Commission (SEC) that it must come up with $120 million in financial commitments to avoid an "adverse effect" on its financial position.

Eight Former AOL Time Warner Executives Face SEC Charges

Authored by Mark Hefflinger on May 20, 2008 - 6:56am.

New York - Eight former executives from the company then known as AOL Time Warner (NYSE: TWX) have been charged by the Securities and Exchange Commission (SEC) with inflating the company's online ad revenues by more than $1 billion between 2000-2002. Four of the executives -- including former controller James MacGuidwin -- have agreed to settle civil charges by paying the SEC about $8 million in fines.

tags: Advertising | Law | AOL | SEC | Time Warner |

SEC Ends Stock Options Probe of THQ; No Charges Filed

Authored by Mark Hefflinger on February 27, 2008 - 9:31am.

Agoura Hills, Calif. - Video game publisher THQ (NASD: THQI) announced on Wednesday that it has received word that the SEC has completed its investigation into the company's stock options granting practices, and will not recommend any action against the company.

tags: Games | Law | THQ | SEC | Backdating |

EA Off Hook in SEC Options Probe; Closing Chicago Office

Authored by Mark Hefflinger on November 7, 2007 - 11:34am.

Redwood City, Calif. - Video game developer and publisher Electronic Arts (NASD: ERTS) announced on Wednesday that the Securities and Exchange Commission (SEC) has terminated its enquiry into the company's stock options grant practices, and recommended no enforcement action.

Report: Apple CEO Jobs Subpoenaed for Testimony in Backdating Suit

Authored by Mark Hefflinger on September 20, 2007 - 8:28am.

Washington - Apple CEO Steve Jobs has been subpoenaed by the SEC to give a deposition in a lawsuit related to the company's stock options granting practices, Bloomberg reported on Thursday, citing two people familiar with the matter.

SEC May File Charges Against Game Publisher Take-Two

Authored by Mark Hefflinger on August 16, 2007 - 12:28pm.

New York - Video game publisher Take-Two Interactive has announced that the company received notice from the Securities and Exchange Commission (SEC) that it may file charges in relation to Take-Two's stock option granting practices.

SEC Upgrades CNET Stock Options Probe to "Formal Investigation"

Authored by Mark Hefflinger on August 2, 2007 - 10:29am.

San Francisco - An informal inquiry into stock options granting practices at technology publisher CNET Networks has been upgraded to a formal investigation, the company said in its second quarter earnings statement.

SEC Launches Probe of Forrester Stock Options

Authored by Mark Hefflinger on June 21, 2007 - 12:02pm.

Cambridge, Mass. - Forrester Research, the Cambridge, Mass.-based, technology market research firm, has received notification from the Securities and Exchange Commission (SEC) that it intends to launch an investigation relating to the company's stock option granting practices.

Supreme Court Rejects Dot-com Investors' Claims Against Investment Banks

Authored by Mark Hefflinger on June 19, 2007 - 10:47am.

San Francisco - The U.S. Supreme Court yesterday ruled against investors who filed an antitrust lawsuit against a number of investment banks, which alleged inflated charges and prices collected during the dot-com boom of the late 1990s, CNET News.com reported.

Take-Two CFO Resigns; Company Regains Nasdaq Compliance

Authored by Mark Hefflinger on April 10, 2007 - 1:27pm.

New York - Days after a group of dissident shareholders ousted the CEO and five of six board members at game publisher Take-Two Interactive, the company's chief financial officer has resigned.

tags: Games | Moves | Take-Two | SEC | Backdating |

Game Publisher Take-Two Says SEC Investigating Stock Option Grants

Authored by Mark Hefflinger on April 5, 2007 - 12:10pm.

New York - Video game publisher Take-Two, creators of the "Grand Theft Auto" franchise, is now the subject of a formal investigation by the Securities and Exchange Commission (SEC) into its stock options granting practices, the company said in a regulatory filing.

U.S. Requests More Stock Options Information From Apple

Authored by Mark Hefflinger on February 2, 2007 - 9:33am.

New York - Apple said in a regulatory filing on Friday that it has received a new request from the government for additional information and documents regarding its stock options granting practices.

Apple CEO Jobs Questioned by Feds Over Role in Stock Option Grants

Authored by Mark Hefflinger on January 23, 2007 - 8:56am.

San Francisco - Apple CEO Steve Jobs was questioned last week by authorities from the U.S. Department of Justice and Securities and Exchange Commission about the company's admitted stock option grants that were "backdated" to make them more valuable for employees, The San Francisco Chronicle reported, citing "people familiar with the case."

Take-Two Investigation Uncovers Stock Option Irregularities

Authored by Mark Hefflinger on January 22, 2007 - 11:51am.

New York - Video game publisher Take-Two Interactive announced on Monday that its internal investigation has uncovered irregularities in its stock options granting practices.

tags: Games | Take-Two | SEC | Backdating |

Spoken Word Audio Distributor MediaBay to Deregister its Stock

Authored by Mark Hefflinger on January 19, 2007 - 1:38pm.

Cedar Knolls, N.J. - MediaBay, a distributor of spoken word audio content, announced on Friday that it has filed to deregister its stock and end its reporting obligations with the Securities and Exchange Commission (SEC). The company said it was eligible to do so under SEC rules because it has fewer than 300 shareholders of record. MediaBay expects the deregistration to become effective in 90 days.

WSJ: U.S. Investigating Apple CEO's Stock Options Grant

Authored by Mark Hefflinger on January 12, 2007 - 1:03pm.

Boston - Federal authorities have launched an investigation into a stock option grant made to Apple CEO Steve Jobs, The Wall Street Journal reported on Friday, citing "sources familiar with the probe."

Nvidia Takes $127 Million Charge After Stock Options Probe

Authored by Mark Hefflinger on November 30, 2006 - 2:57pm.
Santa Clara, Calif. - Graphics chipmaker Nvidia announced that it will take a $127 million charge over expenses related to an internal probe that revealed irregularities in its stock options granting practices.

SanDisk Gets U.S. Regulatory Clearance to Acquire Msystems

Authored by Mark Hefflinger on October 4, 2006 - 1:01pm.
Milpitas, Calif. - SanDisk, a maker of flash memory data storage cards used in MP3 players, mobile phones and other devices, said on Wednesday that it has received U.S. regulatory clearance to complete its $1.3 billion acquisition of Israel's msystems. The company said that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired, and the Securities and Exchange Commission (SEC) has issued a no action letter. The deal still must be approved by msystems' shareholders and Israeli courts before closing. The deal, first announced in last July, would unite a pair of flash memory pioneers with complementary products, customers and channels. Msystems specializes in flash memory systems for the mobile, portable and embedded markets.

SEC Requests Information on Electronic Arts Stock Option Grants

Authored by Mark Hefflinger on September 22, 2006 - 11:19am.
Redwood City, Calif. - Video game publisher Electronic Arts has joined the ranks of fellow publishers THQ, Take-Two and Activision, who have all received requests from the SEC for information regarding their granting of stock options to employees. The SEC is investigating more than 100 firms that may have "backdated" stock options, or changed the date on which they were granted in order to increase their value for employees.
tags: Games | EA | Investing | SEC | Stocks | Options |

Graphics Chipmaker Nvidia Gets Nasdaq Delisting Notice

Authored by Mark Hefflinger on September 12, 2006 - 6:26pm.
Santa Clara, Calif. - Graphics chipmaker Nvidia announced on Tuesday that it has received notice from the Nasdaq that its shares are not in compliance, due to a delayed filing of its quarterly report. The company is currently conducting an internal review of its stock options granting practices dating back to 1999, and has received a request from the SEC for information regarding the practices. The SEC is currently investigating over 80 technology firms' stock options grants, to determine if companies adjusted the date on which grants were issued to increase their values for employees. Santa Clara, Calif.-based Nvidia said its shares will remain listed on the exchange pending a hearing with the Nasdaq.