Wednesday, July 19, 2006

Rambus Inc., testing the theory . . .

that any news is good news - just spell our name correctly:

By Financial Times reporters posted at MSNBC - USA

Rambus shares dive on stock options concern

Shares in Rambus dived more than 9 per cent in early trading in New York on Wednesday after the technology licensing company said an internal review found evidence of the backdating of executive stock options.

the Inquirer reports:

Rambus slumps after share re-statement

THE STOCK PRICE of Rambus (tick: RMBS) took a heavy hit of $2.75 today after it said it is likely to ask to re-state its stock option accounting all the way back to 2003. It also said that will cost it a lot.

BusinessWeek online reports:

Rambus to restate results after review

Memory chip maker Rambus Inc. said Wednesday it expects to restate prior financial results to correct errors related to accounting for stock-option expenses.

The amount of such additional expenses is material, added Rambus, which saw its shares plunge in morning trading. . .

Rambus is one of at least nine companies conducting an internal review of historical option grants. Another 58, many of them technology companies, are under investigation by the Securities and Exchange Commission or Department of Justice for allegedly backdating stock options to retroactively time them at low points in the share price.
*** reports:

Rambus (RMBS) Sees Restatement; To Miss Q2 Filing Date

Rambus Inc. (NASDAQ: RMBS) said it expects to restate its previously issued financial statements to correct errors related to accounting for stock-based compensation expenses.

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