The Securities Exchange Commission (SEC) has launched an informal investigation into microchip equipment maker KLA-Tencor's stock option granting practices, the company said in a statement on Tuesday.
The SEC's involvement comes after KLA-Tencor's announcement last week that the company had received subpoenas from federal prosecutors requesting information about the company's past stock option practices. In response to the federal subpoenas, KLA-Tencor had assembled a special committee of independent directors to conduct an internal investigation relating to the stock options granted to employees from 1995 to 2001.
KLA-Tencor said in a statement that it will cooperate fully with the SEC's inquiry.
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