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Stock Option Probe Widens, Lawsuits Emerge

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At a glance:

Three more companies are being investigated on suspicion of backdating stock options, and one other company faces a shareholder lawsuit on the matter. 
 
Sepracor Inc. is being sued for breach of fiduciary duties, and RSA Security Inc., Asyst Technologies Inc., and Meade Instruments Corp. have all had document requests from federal authorities. 
 
Stock option backdating, if not properly accounted for, is illegal and can falsely influence financial results.

US seeks RSA files in options inquiry

Boston Globe - 6/14/2006 4:03 AM

RSA Security Inc., Asyst Technologies Inc., and Meade Instruments Corp. disclosed federal requests for information about their stock-option grants yesterday , bringing the number of companies under investigation to about 50.
 
RSA, a Bedford maker of Internet security devices, said it received a subpoena from the US attorney in New York for documents on stock options dating to 1996. Asyst and Meade Instruments said the Securities and Exchange Commission requested documents
 
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