But Affymetrix said the review hasn't indicated a pattern of inappropriate options dating. 9, the company filed with the SEC to delay the submission of its second-quarter report because of a restatement to its financial statements for some options granted between 19.
As a result, the company expects to record additional noncash charges. 23, the company said it will restate 2005 results as well as those from the first quarter of 2006 because the actual dates of certain stock option grants "likely differ" from the recorded dates. 16, the Chandler, Ariz., provider of semiconductor assembly and test services said it has identified occasions on which the measurement date used for option awards granted to certain employees was different from the actual grant date.It plans to restate results from fiscal 1998 through the first quarter of 2006. 15, the company said the SEC was probing its stock-option practices. 6, the company said it found evidence of intentional manipulation of stock option pricing by one former executive and some evidence that two other former executives "may have been aware of, or participated in, this conduct." It is recording extra noncash stock-based compensation expense of 6 million, after tax, for the period January 1998 to June 30, 2006.The report, from a Lehman Brothers analyst, called the companys historical options-granting practices "highly questionable." On July 10, the company disclosed that it had received a letter from the SEC about an informal investigation into the companys stock-option grants. 3, the company said it will likely have to restate past results as a result of problems with past grants.Its financial chief resigned, citing personal reasons. 14, 2006 the company a review found the company misdated certain stock option grants and that it found that some former officers may have covered errors in the grant approval process.It is being examined by the Securities and Exchange Commission. 7, the company announced that investors should no longer rely on its prior disclosures about the findings of its continuing internal probe. Noncash compensation costs related to backdating will be about million, plus additional tax-related expenses.
It had previously said a preliminary review suggested no intentional backdating occurred and any charges were likely to be minor. (Headlines) (Options chart) The maker of gene-testing devices said on Aug 1 that an internal probe has uncovered "certain documentation lapses" in its stock options grant processes from 1997 through 1999, including one instance when the option grant date should have been recorded differently.
The company also said it will restate several years of past results to adjust accounting for two option grants in 20.
On May 25, 2007, the company said the SEC had informed the company it had completed its probe and didn't intend to recommend any enforcement action.
The company said prior to receiving the request, it did an internal review of all equity compensation activities since its February 1996 IPO, and said it "believes that there have been no unusual patterns in the timing or pricing of its equity awards and that there is specifically no evidence of backdating of option awards.
On June 1, 2007, Arthro Care said the SEC has completed its formal investigation of the company and that doesn't plan to recommend any enforcement action against Arthro Care.
On May 8, 2006, Altera said its board ordered an independent review of "historical stock-option practices and related accounting." The special probe followed a management review sparked by media reports that raised questions about options practices at other companies, Altera said. 16, 2006, the company said it completed its internal probe, found misdated options, sees restatement adjustments totalling .6 million pretax, and said its CFO was retiring. 20, 2007 the company said the SEC ended its probe of the company's stock-options practices and won't recommend any enforcement action.