More Stock Troubles for Linear
Staff Reporter -- EDN, June 29, 2006
Analog IC manufacturer Linear Technology Corp. Wednesday announced that the United States Attorney's Office for the Northern District of California has requested information on the company's practices and procedures regarding its past stock option grants.
Linear said in a statement that it plans to comply quickly and completely with this request.
This is not the first round of stock option trouble for the Milpitas, Calif.-based company. On June 13, the company announced that the SEC had initiated an informal inquiry into the company's stock option granting practices. And in May, two shareholder lawsuits were filed against a number of Linear executives, alleging the backdating of stock options.
Linear is on the ever-growing list of semiconductor companies recently coming under fire for the alleged backdating of stock options.
