Rambus Inc. announced that the Audit Committee of the Company's Board of Directors has commenced an internal investigation of the timing of past option grants and other potentially related issues. The Audit Committee expects to focus primarily on options issued in or before 2003 and will be assisted by outside legal and accounting experts.Rambus along with other companies including: NYFIX Inc.; Openwave Systems Inc.; and Power Integrations Inc. reportedly have either received a letter of inquiry from the SEC, have been contacted by U.S. attorneys.
Hat tip to Rambus for addressing the issue post haste . . . hide it under a bushel basket, oh no!
Posts
3 comments:
I thought I have seen this "picture" three years ago which prompted me to keep pounding on the issue. Now it's on the forefront.
Just like my expose of MARKET manipulation on March, 2000, my view on the excessiveness and QUESTIONABLE and SUSPICIOUS TIMING of the option grants and exercise was initially met with skepticism.
Ahhh, the psychic in me never fails!
The launching of the internal probe in itself presupposes that there is a PRIMA FACIE CASE.
On that basis, I would expect the SEC, DOJ and the state AG to do their own probes as Rambus cannot and should not investigate itself and later present a Report that it can consider FAIR.
Add to that the Internal Revenue Service.
Post a Comment