Feeds

US share probe keeps growing

Broadcom, Monster dragged in...

Internet Security Threat Report 2014

Fund managers in the US are asking 1,500 companies if they are likely to get dragged into the ever-growing investigation into backdating of share options. Yesterday saw job site monster.com and Broadcom admit they were facing Federal investigation.

The Council of Institutional Investors, whose members run $3 trillion in investments, asked 1,500 firms if they were under investigation or were running their own investigations into share options. The Council said share options should be granted at the same time each year unless there were exceptional circumstances.

Monster said it was running its own investigation and has also received a subpoena from US Attorney in Manhattan. Chip maker Broadcom said it had received informal enquiries from the SEC about granting of share options.

Data center provider Equinix Inc is also facing an informal probe. Accountancy software maker Intuit said on Friday that it too was facing an informal SEC inquiry.

Calpers - California's public employees pension fund - has written to some two dozen companies demanding they investigate and publicly disclose what they discover. Calpers says directors should carry out a full audit of executive pay and compensation.

More from AP here and from the Seattle Post Intelligencer here.

The scandal came to light after research by Eric Lie, professor at the University of Iowa. He found backdating of options was more common before August 2002 when new SEC reporting regulations came into effect. More from him here.

Beginner's guide to SSL certificates

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.