Maxim contacted by SEC for stock option practices

Semiconductor supplier Maxim Integrated Products Inc. said it has been contacted by the U.S. Securities and Exchange Commission (SEC) regarding an informal inquiry relating to Maxim's past stock option grants and practices.

Maxim was slapped with a shareholder suit related to its stock options practices. The company's management has denied involvement but said it would cooperate with the SEC in this matter.

On Wednesday (June 7), directors and officers of FPGA vendor Xilinx Inc. were named in a legal action over the backdating of stock options.

Numerous companies have come under investigation for their practices in granting stock options.

- Spencer Chin
EE Times