Semiconductors
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Linear Tech(LLTC - Cramer's Take - Stockpickr) received a request for information from the Securities and Exchange Commission on Tuesday as part of an informal inquiry regarding the company's past stock-option grants. The maker of analog integrated circuits said late Wednesday that it would comply "quickly and completely." Linear Tech reported May 24 that derivative lawsuits were filed against its board and certain officers alleging improper options backdating -- a term used to describe a practice of granting options to insiders at share prices that were known after the fact to be short-term lows. Linear said it intends to defend the lawsuits and doesn't anticipate their resolution will materially effect the company's results or financial condition. Shares of Linear were off 61 cents, or 1.8%, to $32.55.
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