Friday, September 22, 2006

Cablevision Systems Corporation comes clean and restates

The Company announced on August 8, 2006, . . . undertaken a voluntary review of its past practices in connection with grants of stock options and stock appreciation rights ("SARs") . . . As a result of the review . . . determined that the grant date and exercise price assigned to a number of its stock option and SAR grants during the 1997-2002 period did not correspond to the actual grant date and the closing price of the Company's common stock on the actual grant date.

That from a FORM 10-K/A for the fiscal year ended December 31, 2005, dated 9/20/06.

Rambus Inc. continues to keep its shareholders in the dark.

Apparently, Cablevision awarded options to a deceased officer - backdated. Think about it. An officer already passed on to his reward having options handed - his estate. Read about it at Wired News.

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