Analog Devices Gets Subpoena

Analog Devices (ADI Quote) received a subpoena from the U.S. Attorney's office in Manhattan requesting records dating back to 2000 that cover the company's stock-option grants.

Authorities are examining the options practices at a number of firms, including Juniper (JNPR Quote), F5 Networks (FFIV Quote), American Tower (AMT Quote) and Vitesse Semiconductor (VTSS Quote). Analog said it will cooperate fully with the U.S. Attorney's office.

Analog, a maker of integrated circuits, believes the matter involves the same option grants that were the subject of an investigation by the Securities and Exchange Commission. The company has already reached a tentative settlement with the SEC regarding the agency's inquiry into its policies for assigning stock options.

Shares of Analog were losing 11 cents, or 0.3%, to $33.37 Wednesday.

The growing investigation centers on the idea that some companies might have changed the dates of their options awards to executives to correspond with times when their share price was depressed. By redating an option in order to tie it to a specific date with a low stock price, the recipient of the grant would stand to potentially collect more profits than they would if the grants were made without regard to share levels.